EUR/USD: "window" acts as a support
The pair has been contracting since a “Shooting Star” arrived last week. There’s a “Three Methods” pattern on the nearest “Window”. We haven’t got any reversal patterns, so it’s likely that a decline will go on towards Moving Average lines and the lower side of “Window” area. As we can see on the Daily chart, the 89 Moving Average line acts as a support. The last candles are bearish so far, so the downward movement is probably going to the nearest support line.
There's a flat in progress under the previously formed small “Window”. The last candles on the 55 Moving Average line are bearish, so we can expect that the current correction is going to be continued towards the nearest support line on the one-hour chart.