EUR/USD: 'Shooting Star' on the 89 Moving Average

EUR/USD: 'Shooting Star' on the 89 Moving Average

1412eurusdh4.png

There's a 'Shooting Star', which has been formed on the 89 Moving Average, so the price is declining. The main intraday target is the next support at 1.1237. The subsequent pullback from this level could be a starting point for an upward correction.

1412eurusdh1.png

There's a local bullish 'High Wave', which hasn't been confirmed yet. In this case, it's likely to have a local upward correction towards the upper 'Window' (1.1327). If a pullback from this level happens next, there'll be a moment for another decline.

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