EUR/USD: price going to test Moving Averages

EUR/USD: price going to test Moving Averages

1110eurusdh4-1.png

There's a bearish "Shooting Star", which has been formed on the 89 Moving Average. However, this pattern is still unconfirmed, so we could have just a local correction. Therefore, bulls are likely going to deliver a new local high soon.

1110eurusdh1-1.png

At the same time, we've got a confirmed "Shooting Star" on the one-hour chart. So, the price is likely going to test the Moving Averages in the coming hours. If a pullback from these lines happens next, there'll be an opportunity to have another upward price movement.

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