EUR/USD: bears going to come back to the market
There’s a resistance by the upper “Window”. Also, we’ve got an “Engulfing” pattern, but it hasn’t been confirmed yet. Therefore, the market is likely going to reach a resistance by the middle of the last huge black candle. If a pullback from this level happens, there’ll be an opportunity to have another downward movement. As we can see on the Daily chart, there’re a couple of “High Waves”, but their confirmation hasn’t arrived yet. So, a downward movement is going to move on until any reversal pattern forms.
We’ve got a local correction under the upper “Window”. At the same time, there’s a resistance by the 55 Moving Average, but we have a confirmed “Harami” at the local low. So, the market is likely going to test the 89 Moving Average during the day. If we see a pullback from this line, a downward movement becomes possible.