EUR/USD: "Shooting Star" led to bearish correction
We’ve got a “Doji” and a “Tower” at the local high, but these patterns haven’t been confirmed yet. So, the market is likely going to test the nearest support line. If we have a pullback from this line, bulls will probably try to deliver a new high. As we can see on the Daily chart, there’re a “Hammer” and a “Harami”, which both have a confirmation. Therefore, the pair is likely going reach the closest resistance line.
There’s a support by the Moving Averages. Also, we’ve got a confirmed “Shooting Star”, so bears are likely going to test the nearest support line, which could reverse the price movement into an upward direction.