The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...
EUR/USD: "Double Bottom" pattern
There's a "Double Bottom" pattern, which has been confirmed, so the price is consolidating. The main intraday target is the nearest resistance at 1.1846 - 1.1875. If a pullback from this area happens, there'll be an opportunity to have a decline in the direction of the 34 Moving Average.
We've got a "Triple Top" pattern right under resistance at 1.1827. So, the price is likely going to test the 55 Moving Average in the short term. If a pullback from this line happens, bulls will probably try to achieve the closest resistance at 1.1827 - 1.1838.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.