The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...
EUR/USD: "Tower" led to decline
There's a bearish "Shooting Star" pattern, which has been confirmed. Therefore, the market is likely going to test the nearest support level, which could be a departure point for another upward price movement.
The last bearish "Tower" pattern led to the current decline. However, there's a bullish "Hammer", so we could have a local upward correction during the day. Meanwhile, bears are likely going to deliver a new local low later on.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.