EUR/USD: 'Hammer' under the Moving Averages

EUR/USD: 'Hammer' under the Moving Averages

1701eurusdH4.png

There's a possible bullish 'Hammer' under the Moving Averages. If this pattern confirms, the market is going to reach the closest resistance at 1.1429. A pullback from this level could be a starting point for a decline towards the previously tested support at 1.1345.

1701eurusdH1.png

We've got a bullish 'Doji', but confirmation of this pattern is quite weak. In this case, we should keep an eye on the nearest resistance at 1.1429 as an intraday target. If a pullback from this level arrives little later on, there'll be a green light for another downward price movement towards 1.1345.

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