EUR/USD: 'Shooting Star' led to decline

EUR/USD: 'Shooting Star' led to decline

1601eurusdH4.png

The market has been declining since a 'Shooting Star' formed at the last high. At the same time, there's a bearish 'Three Methods' pattern, so the price is likely going to test the next support at 1.1363 soon. If a pullback from this level happens next, bulls will probably try to reach the closest resistance at 1.1492.

1601eurusdH1.png

There's consolidation, which is taking place in a range of the 'Window'. Also, there's a 'Harami', which has been confirmed. In this case, we should watch the nearest support at 1.1363 as the next target, which could be a departure point for an upward correction.

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