EUR/USD: Moving Average acting as a resistance
02/27/2017
The price reached the 55 Moving Average, so we’ve got a bearish “Engulfing” pattern. At the same time, there’s a bullish “Hammer”, which has been confirmed. In this case, the market is likely going to test the 34 Moving Average. If a pullback from this line happens, bears will probably try to test the nearest support.
The upper “Window” is acting as a resistance, but we’ve got a bullish “Engulfing”. Therefore, the market is likely going to test the 144 Moving Average, which could be a departure point for another decline.
More:
https://new.fxbazooka.com/analytics/12650
02/27/2017
The price reached the 55 Moving Average, so we’ve got a bearish “Engulfing” pattern. At the same time, there’s a bullish “Hammer”, which has been confirmed. In this case, the market is likely going to test the 34 Moving Average. If a pullback from this line happens, bears will probably try to test the nearest support.
The upper “Window” is acting as a resistance, but we’ve got a bullish “Engulfing”. Therefore, the market is likely going to test the 144 Moving Average, which could be a departure point for another decline.
More:
https://new.fxbazooka.com/analytics/12650