EUR/USD: "High Wave" pattern

EUR/USD: "High Wave" pattern

0512eurusdh4 (1).png

There's a possible "High Wave" pattern, which has been formed at the last local low. However, the nearest "Window" is acting as resistance, so the 89 Moving Average is likely going to act as support. If so, there'll be an opportunity to have another bullish price movement.

0512eurusdh1 (1).png

The price is consolidating between the Moving Averages, so the market is likely going to test the upper "Window". If a pullback from this level happens, we could have another decline towards the lower "Window".



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