EUR/USD: "Tower" led to decline

EUR/USD: "Tower" led to decline

1907eurusdh4-1.png

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.

1907eurusdh1-1.png

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.

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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