EUR/USD: "Dark Cloud" pattern

EUR/USD: "Dark Cloud" pattern

2006eurusdh4.png

The last "Dark Cloud" pattern led to the current decline. Also, the 89 Moving Average is acting as support, so the market is likely going to test the 55 MA in the short term. If a pullback from this line happens, bears will have a green light to push the price even lower.

2006eurusdh1.png

The upper "Window" has acted as resistance, so we've got an "Engulfing" pattern on this level. At the same time, there's a bullish "Doji", so the pair is likely going to test the Moving Averages in the coming hours.

eur

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