EUR/USD: "Engulfing" at the local low

EUR/USD: "Engulfing" at the local low


There's a bearish "Tower" pattern, which has been confirmed enough. Therefore, the market is likely going to decline towards the 55 Moving Average. If we see any bullish pattern on this line afterwards, there'll be an opportunity to have another upward price movement.


We've got a confirmed "Engulfing" at the local low. Considering confirmation of this pattern, the pair is likely going to get support on the 55 Moving Average. If a pullback from this line happens, the current upward correction will go on.




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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