EUR/USD: confirmed 'Inverted Hammer'

EUR/USD: confirmed 'Inverted Hammer'

1408eurusdh4.png

There's an 'Inverted Hammer', so the market is likely going to test the nearest resistance at 1.1450 in the short term. A pullback from this level could be a starting point for a decline towards the next support at 1.1304.

1408eurusdh1.png

The last 'Window' is acting as a support, so the pair is going to reach the 55 Moving Average (1.1450) within the next few hours. If a pullback from this line happens next, we're going to have another decline in the direction of 1.1304.

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