EUR/USD: bullish "Three Methods" pattern

EUR/USD: bullish "Three Methods" pattern


There's a bullish "Engulfing" pattern, which has been confirmed, so the price reached the nearest resistance level. However, we don't have any reversal pattern so far, which means bulls are likely going to continue pushing the price higher.


We've got a bullish "Three Methods" pattern, so the price is rising. At the same time, there's an opportunity to have a local decline towards the nearest support. If we see a pullback from this level, bulls will be free to move on.




Morning brief for May 30

 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…

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