EUR/USD: confirmed bearish 'Engulfing'

EUR/USD: confirmed bearish 'Engulfing'

1807eurusdh4.png

There's a bearish 'Engulfing', which has been confirmed. Also, we've got a 'Three Methods' pattern, so the price is declining. If a pullback from the closest support at 1.1600 happens next, there'll be time for an upward correction towards the nearest resistance at 1.1676.

1807eurusdh1.png

We've got a bullish 'Hammer', which hasn't been confirmed yet. In this case, the market is likely going to test the lower 'Window' (1.1600) once again. A pullback from this level could be a starting point for a bullish correction.

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