EUR/USD: 'High Wave' pattern

EUR/USD: 'High Wave' pattern

2612eurusdh4.png

There's a 'High Wave' pattern, which has been confirmed. It's likely that the price is going to test the nearest support at 1.1335 in the coming hours. If a pullback from this level happens next, there'll be an opportunity to have a local upward correction.

2612eurusdh1.png

The price is declining because of the last bearish 'Engulfing' pattern. The main intraday target is the lower 'Window' (1.1335). This level could be a starting point for an upward correction in the direction of the nearest resistance at 1.1437.

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