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: "Engulfing" and "Hammer"
We've got a bullish "High Wave", which hasn't been confirmed enough. So, we could have just a local upward correction in the short term. If a pullback from the nearest resistance happens, bears are likely going to break the last low.
We've got bullish patterns such an "Engulfing" and a "Hammer", which both have been confirmed. So, the 55 Moving Average is likely going to act as resistance during the day.
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.