EUR/USD: "Window" has been waiting for bulls
There’s a bullish rally, which is taking place on the four-hour chart, so we haven’t got any reversal pattern. In this case, the market is likely going to reach the nearest “Window”, where some bearish pattern could be formed. As we can see on the Daily chart, here’s a strong support by the 55 & 89 Moving Average lines. The last candles are bullish, so an achievement of the 144 Moving Average is a still on the table.
The last consolidation was finally ended by the huge white candle. Also, there’s an “Engulfing” at the local low. Therefore, the pair is likely going to reach the nearest resistance. If a pullback from this level happens later on, there’ll be a chance to see a bearish correction towards the 21 Moving Average.