EUR/USD: 'Shooting Star' and 'Engulfing' still in place

EUR/USD: 'Shooting Star' and 'Engulfing' still in place

1709eurusdh4.png

There're bearish patterns such a 'Shooting Star' and an 'Engulfing', which both have been confirmed. However, we've got a bullish 'Harami' in the 144 Moving Average. So, the market is likely going to test the nearest resistance at 1.1680, which could be a departure point for a decline towards the next support at 1.1598.

1709eurusdh1.png

The price is rising because of the last 'Inverted Hammer'. The main intraday target is the upper 'Window' (1.1661). If a pullback from this level happens next, bears will probably try to test the lower 'Window' (1.1755) little later on.

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