EURUSD: "Doji" on the 55 Moving Average

EURUSD: "Doji" on the 55 Moving Average

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There's a "Doji", which has been formed on the 55 Moving Average. However, confirmation of this pattern is a quite weak, so we're likely going to have a local correction towards the nearest resistance, which could be a departure point for another decline.

1001eurusdH1 (1).png

We've got an "Inverted Hammer" and a "Tweezers" patterns, so the market is likely going to test the 89 Moving Average. If this line acts as resistance, bears will probably try to deliver a new local low.




Morning brief for May 30

 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…

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