EUR/USD: 'Three Methods' pattern

EUR/USD: 'Three Methods' pattern

2811eurusdH4.png

There's a 'Three Methods' pattern, which has been formed under the upper 'Window'. In this case, we should keep an eye on the closest resistance at 1.1309 as a possible departure point for a decline in the direction of the next support at 1.1231.

2811eurusdH1.png

We've got a bullish 'Hammer', but this pattern remains unconfirmed. In this case, it's likely that the price is going to test the nearest resistance at 1.1309 shortly. The subsequent pullback from this level will bring more evidence that the bearish trend is still in force.

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