EUR/USD: bullish 'High Wave' pattern

EUR/USD: bullish 'High Wave' pattern

1202eurusdH4.png

There's a bullish 'High Wave', but this pattern remains unconfirmed. In this case, we're likely going to have an upward correction in the coming hours in the direction of the upper 'Window' (1.1329). If a pullback from this level happens next, bears will probably try to test the next support at 1.1257.

1202eurusdH1.png

We've got an 'Inverted Hammer', which has been confirmed. Thus, it's likely to have a local correction in the short term. Meanwhile, if a pullback from the nearest resistance at 1.1329 happens next, there'll be a green light for another decline towards 1.1257.

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