EUR/USD: "Inverted Hammer" stopped bears
There’s an “Engulfing” at the last high, which was a reason for the following decline. Currently, the price is trading in a range of the “Window”, so a local downward movement becomes possible. As we can see on the Daily chart, there isn’t any clear pattern at the last maximum. Today’s candle has a huge shadow, which could be smaller at the end of the day.
We’ve got an “Inverted Hammer” and an “Engulfing” at the local low. Also, there’s a possible “Harami”, so the market is likely going to reach the nearest support shortly.