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    EUR/USD: correction is in progress after the "Doji"

    EUR/USD: correction is in progress after the "Doji"

    We’ve got a “Doji” and an “Engulfing” at the local high, but both of them haven’t confirmed yet, because the last candles formed in a range of the previously ended “Three Methods” pattern. So, the current correction has a reason to go on and finally bulls are likely going to reach the nearest resistance line. As we can see on the Daily chart, here’s a “Hanging Man” pattern, but it hasn't confirmed, so the current rise still has a chance to be continued.

    EUR/USD: correction is in progress after the "Doji"

    There’s a flat in progress, which brought a “Harami” on the 55 Moving Average. The market is likely going to test the 89 Moving Average once again. If we see a pullback from this line, then it’ll be an open door for a new stage of bullish rally.

     

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