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 "Inverted Hammer"
The bearish correction is still developing, so there isn't any bullish pattern so far. In this case, the market is likely going to continue declining towards the nearest "Window".
We've got an "Inverted Hammer" at the last low, but confirmation of this pattern is a quite weak. Therefore, we could have a local upward correction and another decline afterwards.
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.