EUR/USD: bearish "V-top" pattern

EUR/USD: bearish "V-top" pattern

12-7-2017-EUR-H4.png

Bulls faced resistance at 1.1494, so we've got a bearish "V-top" pattern, which pushed the price lower. So, the market is likely going to test the nearest support at 1.1425 - 1.1398 in the coming hours. If a pullback from this area happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1494 - 1.1529.

12-7-2017-EUR-H1.png

We've got a "Double Top" pattern, which has been confirmed. Therefore, bears are likely going to test the 55 Moving Average in the short term. If a pullback from this line arrives afterwards, bulls will probably try to achieve the closest resistance at 1.1494.

eur

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