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.

eur

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