EUR/USD: green light for upward correction
There's a 'Triple Top' pattern, which pushed the price lower, so all the Moving Averages have been broken...
EUR/USD: 'Head & Shoulders' pushed price higher
The main trend is still bearish. At the same time, there's a 'Triple Bottom' pattern, so the price is rising. However, if a pullback from the 55 Moving Average happens little later on, there'll be a moment for another decline.
We've got a 'Head & Shoulders' pattern, which led to the current upward price movement. Also, there's a broken 'Pennant', so the market is likely going to test the next resistance at 1.2025 - 1.2031 in the short term.
Sergey Logachev
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