EUR/USD: "Window" acted as resistance

EUR/USD: "Window" acted as resistance

0506eurusdh4.png

The price reached the upper "Window", which acted as resistance, so we've got a bearish "Tweezers" pattern. Therefore, the market is likely going to decline towards the nearest support level in the short term. However, if any bullish pattern arrives afterwards, there'll be an opportunity to have another upward price movement.

0506eurusdh1.png

We've got a bullish "Hammer", but this pattern hasn't been confirmed yet. In this case, we could have a local upward correction, but 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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