EUR/USD: developing "Three Black Crows"

EUR/USD: developing "Three Black Crows"

0510eurusdh4-1.png

There's a bullish "Engulfing", which has been confirmed by the last "Three Methods" pattern. So, the 34 Moving Average is likely going to act as resistance in the short term. If a pullback from this line happens, we could have another decline soon.

0510eurusdh1-1.png

It's likely that there's a developing "Three Black Crows" pattern. If it confirms, bears are likely going to test the closest support area, which could be a departure point for an upward price movement towards the Moving Averages.

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Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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