EUR/USD: lower 'Window' acting as support

EUR/USD: lower 'Window' acting as support

2401eurusdH4.png

The lower 'Window' is acting as support. Previously, we had a 'Harami' pattern, which has been confirmed, so the price is likely going to continue declining. The main intraday target is the next support at 1.1296, which could be a starting point for an upward correction.

2401eurusdH1.png

There's a bullish 'Hammer', but this pattern is unconfirmed. In this case, it's likely that the market is going to test the nearest resistance at 1.1365. If a pullback from this level happens little later on, bears will probably try to deliver a new local low.

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