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.




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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