EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: MA acting as resistance
The Moving Averages are acting as resistance, so the last bearish "Engulfing" pattern is still on the table. In this case, if a pullback from the nearest resistance area happens little later on, there'll be a moment for another decline.
The 144 Moving Average has acted as resistance, so there're bearish patterns such a "Doji" and a "Harami". Therefore, we're likely going to have a decline during the day. Meanwhile, if any bullish pattern arrives afterwards, we could have an intraday upward price movement.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.