EUR/USD: 'Shooting Star' points to local decline

EUR/USD: 'Shooting Star' points to local decline

1409eurusdh4.png

The last 'Three Methods' pattern led to the current upward price movement, but we've got a 'Shooting Star', which hasn't been confirmed yet. So, the market is likely going to test the closest support at 1.1661, which could be a departure point for another bullish rally.

1409eurusdh1.png

There's a bearish 'Engulfing', which has confirmation, so the pair is likely going to reach the lower 'Window' (1.1661). If a pullback from this level forms next, bulls will probably try to reach the next resistance at 1.1755.

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