EUR/USD: "Engulfing" and "Tweezers"

EUR/USD: "Engulfing" and "Tweezers"

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There are bearish patterns such a "Shooting Star, an "Engulfing" and a "Tweezers". However, confirmation of these patterns isn't enough, so we could have just a local downwards correction. If a pullback from the nearest support happens, there'll be an opportunity to have another upward price movement.

3107eurusdh1-2.png

There's a "Hanging Man" at the last high, which has been confirmed enough. So, bears are likely going to test the 55 Moving Average, which could be a departure point for another bullish rally.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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