EUR/USD: "High Wave" pattern

EUR/USD: "High Wave" pattern

1611eurusdH4 (1).png

There're bearish patterns such an "Evening Star" and a "High Wave". So, the price is likely going to test the nearest support. If a pullback from this level happens little later on, we could have another upward price movement.

1611eurusdH1 (1).png

The last "High Wave" pattern led to the current decline, but there isn't any bullish pattern so far. In this case, the 55 Moving Average is likely going to act as support soon. If a pullback from this line happens, there'll be an opportunity to have a bullish price movement.



GBP/USD: "V-Top" pattern

We're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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