EURUSD: "V-Top" pattern

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17-1-2018-EUR-H4.png

The main trend is still bullish, however there's a "V-Top" pattern, so the market is likely going to test the nearest support at 1.2225 - 1.2164. If a pullback from this area happens little later on, there'll be an opportunity to have another upward price movement.

17-1-2018-EUR-H1.png

We've got a "V-Top", so there's a developing bearish correction. The main intraday target is the closest resistance at 1.2272 - 1.2296. This area could be a departure point for a decline in the direction of the 55 Moving Average.

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