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.

eur

Similar

GBP/CAD targeting lower levels

It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1…

Popular

Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera