EUR/USD: 'High Wave' pattern

EUR/USD: 'High Wave' pattern

1004eurusdH4 (1).png

There's a 'High Wave' pattern, so we could have a local downward correction in the short term. Meanwhile, if a pullback from the Moving Averages happens afterwards, we're likely going to have another upward price movement.

1004eurusdH1 (1).png

The 144 Moving Average has acted as support, so there's a new local high. It's likely that the pair is going to rise in the coming hours, but if any bearish pattern forms little later on, there'll be time for a downward correction.

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