The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...
EUR/USD: bullish "High Wave"
The price has reached the lower “Window”, so we’ve got a “High Wave”, but confirmation of this pattern is a quite weak. Therefore, the “Window” is likely going to act as support once again in the short term.
There’s a bullish “Engulfing” pattern at the last low. However, we’ve got a bearish “Harami” on the 34 Moving Average, but this pattern hasn’t been confirmed yet. In this case, bulls are likely going to test the nearest resistance in the coming hours.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.