FBS Markets Inc.

EUR/USD: upper 'Window' could act as resistance

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The lower 'Window' has acted as support, so there's an 'Inverted Hammer' pattern, which has been confirmed. So, the market is likely going to test the 34 Moving Average shortly. A pullback from this line could be a starting point for another decline.

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The last 'Harami' and 'Doji' patterns led to the current upward price movement. The main intraday target is the upper 'Window' (1.1408). If a pullback from this level happens next, bears will probably try to reach the closest support at 1.1357.

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