EUR/USD: 'High Wave' led to decline

EUR/USD: 'High Wave' led to decline

2707eurusdh4.png

The 144 Moving Average has acted as resistance, so there's a 'Shooting Star', which led to the current decline. Also, we've got a 'Three Methods' pattern, so the market is likely going to test the next support at 1.1569.

2706eurusdh1.png

The last 'High Wave' led to the current decline. The main intraday target is the lower 'Window' (1.1600). A pullback from this level could be a starting point for an upward price movement towards the nearest resistance at 1.1656.

eur

Similar

GBP/USD: another 'V-Top' pattern

The pair is going to test the nearest support at 1.2684 - 1.2661. In this case, we could have a new local low within the next few hours...

gbp

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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