EUR/USD: bulls going to break local high
There’s a “Hammer” at the local low, which has been strongly confirmed. So, the price is likely going to get a support on the nearest Moving Averages. If a pullback from this lines happens, there’ll be an opportunity to have another upward movement. As we can see on the Daily chart, here’s a support by 34 & 89 Moving Averages. Considering the huge shadow of Friday’s candle, bulls are likely going to reach the nearest resistance line.
We’ve got an “Engulfing” at the last low. Meanwhile, the 21 Moving Average has acted as a support, so we’ve got a pullback from this line. Under this circumstances, the market is likely going to test Friday’s high.