EUR/USD: "Engulfing" pattern

EUR/USD: "Engulfing" pattern

2301eurusdH4 (5).png

There's an "Engulfing" pattern, which has been formed at the last high. So, the pair is likely going to test the 34 Moving Average, which could be a departure point for another upward price movement.

2301eurusdH1 (5).png

The 55 Moving Average acted as support, so there's a "High Wave" pattern. In this case, we could have a local upward correction. Nevertheless, bears are likely going to test the 89 MA afterwards.



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