EUR/USD: developing bearish correction

EUR/USD: developing bearish correction

2901eurusdH4 (2).png

There's a developing bearish correction, but the last bullish "Piercing Line" is still on the table. So, if the 34 Moving Average acts as support, there'll be a moment to have another upward price movement.

2901eurusdH1 (2).png

We've got a bullish "Hammer", so the market is likely going to test the closest resistance area. If any bearish pattern forms little later on, we could have another decline towards the Moving Averages.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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