EUR/USD: 'Shooting Star' led to decline

EUR/USD: 'Shooting Star' led to decline

2101eurusdh4.png

The market has been declining since a 'Shooting Star' formed at the last high. Meanwhile, there's a bearish 'Doji', which has been confirmed. In this case, it's likely that the price is going to test the lower 'Window' (1.1327), which could act as support.

2101eurusdh1.png

The upper 'Window' and the 34 Moving Average have acted as resistance, so we've got an 'Engulfing'. However, confirmation of this pattern is quite weak. Anyway, we should watch the lower 'Window' (1.1327) as the next bearish target.

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