EUR/USD: possible 'Diamond' pattern

EUR/USD: possible 'Diamond' pattern


The main trend is still bearish. However, there's a 'Double Bottom' pattern, so the market is likely going to test the nearest resistance area at 1.1934 - 1.1939. A pullback from this area could be a starting point for another decline.


It seems like we could have a 'Diamond' pattern on the one-hour chart. So, if a pullback from the closest support at 1.1840 - 1.1837 happens soon, there'll be an opportunity to have an upward price movement towards the 55 Moving Average.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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