EUR/USD: two 'High Wave' patterns in a row

EUR/USD: two 'High Wave' patterns in a row

1804eurusdH4 (1).png

The 34 Moving Average is acting as support. At the same time, there's a bullish 'High Wave', but confirmation of this pattern isn't enough. In this case, the price is likely going to continue moving down towards the 89 MA.

1804eurusdH1 (1).png

There're two 'High Wave' patterns in a row, so the pair is likely going to test the closest resistance. If a pullback from this area happens next, there'll be a moment to have a decline towards the Moving Averages.



Latest news

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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