EUR/USD: bearish 'Pennant' led to decline

EUR/USD: bearish 'Pennant' led to decline

29-3-2018-EUR-H4 (1).png

There's a 'Double Top' pattern, so all the Moving Averages have been broken. The main intraday target is the next support area at 1.2250 - 1.2238, which could be a departure point for another upward price movement.

29-3-2018-EUR-H1 (1).png

The last bearish 'Pennant' led to the current decline. It's likely to have an upward correction towards the 89 Moving Average, which could act as resistance. If so, there'll be a moment for another bearish price movement.

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