EUR/USD: "Tweezers" reversed the local trend
We’ve got a lot of bearish patterns at the local high such as a “Harami”, a “Two Crows” and a “Tweezers”. So, the price is declining, but there’s also an opportunity to have a local bullish correction. Nevertheless, bears are likely going to push the market lower towards the nearest “Window”. As we can see on the Daily chart, there’s a possible bearish pattern at the local high, but it hasn’t finished yet. Therefore, if this pattern confirms, sellers will probably try to return into the market.
There’re a “Hanging Man” and a “Shooting Star” at the last high. Moreover, we’ve got a “Tweezers”, which has been confirmed enough. Therefore, the pair is likely going to get a support on the 89 Moving Average in the short term.