There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
EUR/USD: 'Wedge' pattern was broken
The price has been declining since the last 'Wedge' pattern was broken. It's likely that the market is going to test the next support at 1.2129 - 1.2080, which could be a departure point for a bullish correction.
Bears faced with support at 1.2154, so the pair is likely going to reach the nearest resistance at 1.2205 - 1.2223. A pullback from this area could be a departure point for another decline.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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