EUR/USD: "Shooting Star"

EUR/USD: "Shooting Star"

0811eurusdH4.png

There're bullish patterns such a "Morning Star" and a "High Wave", which both have been confirmed. So, the 55 Moving Average is likely going to act as resistance. If so, we could have another decline afterwards.

0811eurusdH1.png

We've got a "Shooting Star", which has been formed on the 55 Moving Average. However, confirmation of this pattern is a quite weak, so we could have a local bearish correction and the following decline littel later on.

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EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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