EUR/USD: 'Window' is acting as support

EUR/USD: 'Window' is acting as support

0512eurusdh4.png

The Monday's 'Window' is acting as support, so it's likely to have a bullish 'Engulfing' pattern. In this case, the market is going to test the nearest resistance at 1.1363, which could be a starting point for a decline towards the next support at 1.1287.

0512eurusdh1.png

There're bullish patterns such a 'Hammer' and an 'Engulfing'. Thus, we should keep an eye on the closest resistance at 1.1363 as an intraday target. If a pullback from this level forms next, there'll be a green light for another decline in the direction of the lower 'Window' at 1.1287.

eur

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