EUR/USD: 'Three Methods' pattern

EUR/USD: 'Three Methods' pattern

1401eurusdh4.png

The price has reached the 34 Moving Average, but we've got a 'Three Methods' pattern. In this case, the market is likely going to continue declining towards the 89 & 144 Moving Averages. If a pullback from these lines happens next, there'll be a moment for another bullish rally.

1401eurusdh1.png

There's a bullish 'Doji', but confirmation of this pattern is quite weak. Previously, a 'Hanging Man' pattern was formed. Thus, we should watch the 34 Moving Average (1.1485) as a possible departure point for a decline in the direction of the lower 'Window' (1.1412).

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EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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