EUR/USD: price to test the 34 Moving Average
The pair has been declining since the last 'Harami' formed. However, there's a bullish 'Hammer', which has been confirmed...
EUR/USD: resistance is at 1.2456
The trend is still bullish, but the price is consolidating. Also, there's a "Double Top" pattern, which has been confirmed, so the pair tested the 55 Moving Average. The main intraday target is the nearest resistance at 1.2456. If a pullback from this level happens, there'll be an opportunity to have a decline towards the next support at 1.2334 - 1.2294.
All the Moving Averages acted as resistance, so there's a "V-Top" pattern. Therefore, the pair is likely going to test the closest support area at 1.2350 - 1.2334. Meanwhile, if we see a pullback from these levels, there'll be a moment to have another upward price movement.
Sergey Logachev
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