EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
EUR/USD: bulls going to test next resistance
The upper side of the last triangle has been broken, so the price reached a resistance at 1.0739. Therefore, there’s an opportunity to have a downward correction in the direction of a support at 1.0701 – 1.0688. At the same time, if a pullback from these levels be on the table, bulls are likely going to test the nearest resistance at 1.0739 – 1.0759.
There’s a “Double Top” pattern. In this case, bears are likely going to test the nearest support at 1.0707 – 1.0698. If a pullback from this area happens, there’ll be an opportunity to have an upward price movement towards the next resistance 1.0739 – 1.0759.
Sergey Logachev
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