EUR/USD: "Three Black Crows" strike an awe into bulls
There’s an “Engulfing” at the local high, so the market is likely going to reach the nearest support line. If any bullish pattern arrives afterwards, an upward movement in the direction of the last high becomes possible. As we can see on the Daliy chart, here’s a “Tweezers” in the 89 Moving Average, so if it confirms bulls will probably try to continue the current upward correction.
We’ve got a strong support by the upper “Window”, which has brought an “Engulfing” an a “Three Black Crows” patterns, both of them have a good confirmation. Therefore, the pair is likely going to get a resistance on the 21 or 34 Moving Average lines in the short term. If we see a pullback from these lines, bears will have an opportunity to deliver a new low afterwards.