EUR/USD: "Shooting Star" launched correction

EUR/USD: "Shooting Star" launched correction

EUR/USD: "Shooting Star" launched local correction

The price has tested the nearest resistance ones again. Also, we’ve got a “Shooting Star”, but this pattern hasn’t been confirmed yet. Therefore, the market is likely going to reach the lower “Window” in the short term. If a pullback from this level happens, we could have another bullish rally.

EUR/USD: "Shooting Star" launched local correction

The 34 Moving Average is acting as a support. At the same time, we’ve got a “Doji”, but a confirmation of this pattern is a quite weak. So, the price is likely going to test the closet resistance, which could be a departure point for a local decline.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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