EUR/USD: "Double Top" under 34 MA

Read the article on FBS website

13-12-2017-EUR-H4.png

Bears faced with support at 1.1712, so there's a "V-Bottom", which pushed the price to the nearest resistance at 1.1756. Considering that there was a pullback from the Moving Averages, the market is likely going to test the nearest support at 1.1712 - 1.1695 in the short term.

13-12-2017-EUR-H1.png

There's a "Double Top", which has been formed under the 34 Moving Average. The main intraday target is the next support at 1.1712 - 1.1695. If a pullback from this area happens little later on, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1756 - 1.1772.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.