EUR/USD: confirmed bearish "Engulfing"

EUR/USD: confirmed bearish "Engulfing"

2811eurusdH4 (2).png

There's an "Engulfing" pattern, which has been formed at the last high. So, the pair is likely going to test the nearest support level, which could be a departure point for another bullish rally.

2811eurusdH1 (2).png

We've got a confirmed bearish "Engulfing". In this case, the market is likely going to test the lower "Window" and the 34 Moving Average. If a pullback from these levels happens afterwards, we could have a local correction.




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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