EUR/USD: "Shooting Star" led to decline

EUR/USD: "Shooting Star" led to decline

0711eurusdH4 (1).png

The last "Shooting Star" led to the current decline. Also, there isn't any reversal pattern so far. If the 21 Moving Average acts as resistance, we're likely going to have just another decline.

0711eurusdH1 (1).png

We don't have any reversal pattern for now. Yesterday, we had a "Tweezers" pattern, so there's a new local low. In this case, the pair is likely going to test the nearest support area during the day.



GBP/USD: "Thorn" pattern

The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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