EUR/USD: 'Shooting Star' pattern

2019-01-11 04:00    FBS

EUR/USD: 'Shooting Star' pattern Institution Opinions 1

There's a 'Shooting Star' pattern, which has been confirmed, so the price is likely going to test the nearest support at 1.1496. If a pullback from this level happens next, there'll be an opportunity to have another upward price movement towards the next resistance at 1.1604.

EUR/USD: 'Shooting Star' pattern Institution Opinions 2

The last bearish 'Harami' led to the current decline, but we've got a local 'High Wave' pattern, so the market could test the upper 'Window' at 1.1555. The subsequent pullback from this level will probably lead to a decline in the direction of the nearest support at 1.1496.

EURPattern

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