EUR/USD: pair declining because of 'Engulfing'

EUR/USD: pair declining because of 'Engulfing'

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The last bearish 'Engulfing' has pushed the pair lower. The main intraday target is the next support at 1.1417. If any bullish pattern forms little later on, there'll be a moment to have an upward correction.

1008eurusdh1.png

We've got a bullish 'Hammer', but this pattern hasn't been confirmed yet. So, we should keep an eye on the nearest support at 1.1417 as a possible departure point for the upcoming bullish correction.

eur

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