STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
EUR/USD: 'Shooting Star' pattern
There's a confirmed 'Shooting Star', so the market is likely going to test the nearest resistance at 1.1521. A pullback from this level could be a starting point for a decline towards the next support at 1.1400.
The 34 Moving Average has acted as resistance, so we've got a bearish 'Shooting Star'. In this case, after a short break, the pair is likely going to achieve the lower 'Window' (1.1400).
Galya Svetlova
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