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EUR/USD: 'Inverted Hammer' on the 'Window'

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There's an 'Inverted Hammer', but confirmation of this pattern is quite weak. Anyway, the market is likely going to test the nearest resistance at 1.1695, which could be a starting point for another decline.

1506eurusdh1 (1).png

The pair has plunged because of the last 'Hanging Man' pattern. However, we've got a 'Hammer', so the pair is going to test the closest resistance at 1.1695. If a pullback from this level happens little later on, there'll be a moment to have a bearish price movement.

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