EUR/USD: "Inverted Hammer" pattern

EUR/USD: "Inverted Hammer" pattern


There're bullish patterns such a "High Wave" and an "Engulfing", which both have been formed at the local low. In this case, the market is likely going to test the 34 Moving Average, which could be a departure point for another decline.


We've got an "Inverted Hammer" pattern, but bulls faced with the nearest resistance, so we could have a local bearish correction during the day. Nevertheless, an upward correction is likely going to be continued afterwards.




EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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