EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: confirmed "Double Top" pattern
We've got a "Double Top" pattern, which has been confirmed. Also, the 34 Moving Average has acted as support, so the price is consolidating. Nevertheless, the pair is likely going to reach the next support at 1.1683 in the short term. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1757 - 1.1801.
There's a consolidation, which is taking place under resistance at 1.1801. However, bears are likely going to achieve the closest support at 1.1712 - 1.1683 during the day. If a pullback from this area happens, we should keep an eye on resistance at 1.1784 - 1.1801 as an intraday target.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.