STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
EUR/USD: bullish 'Three Methods' pattern
The 34 & 55 Moving Averages have acted as support, but there's no any reversal pattern so far. So, the price is likely going to test the 144 Moving Average (1.1455), which could act as resistance. If so, there'll be time for another decline.
There's a bullish 'Three Methods' pattern, which has been confirmed. In this case, the pair is likely going to reach the next resistance at 1.1427, which could be a departure point for a decline in the direction of the previously tested support at 1.1400 (lower 'Window').
Galya Svetlova
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