EUR/USD: "Shooting Star" pushing price lower

EUR/USD: "Shooting Star" pushing price lower

The last “Tweezers” pattern has been confirmed, so the price is declining. Also, there’s a bearish “Three Methods” pattern. Therefore, the market is likely going to get a support on the nearest Moving Averages.

We’ve got a confirmed “Shooting Star”, but the price formed a pullback from the closest support. In this case, we could have a local correction during the day. Meanwhile, bears are likely going to continue pushing the market lower afterwards.




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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