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: "V-Top" pattern
The trend is still bullish, but the price is consolidating. The main intraday target is the next resistance at 1.2456 - 1.2500. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the nearest support at 1.2334 - 1.2294.
The Moving Averages have acted as resistance, so there's a "V-Top" pattern. In this case, the pair is likely going to reach the closest support at 1.2384 - 1.2363 in the short term. Meanwhile, if we see a pullback from these levels, bulls will probably try to test the next resistance at 1.2482 - 1.2456.
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.