EUR/USD: confirmed "Double Top" pattern

EUR/USD: confirmed "Double Top" pattern


The main trend is still bullish, but there's a confirmed "Double Top" pattern, so the price is declining. The main intraday target is the nearest support at 1.2234 - 1.2205. If a pullback from these levels happens little later on, there'll be an opportunity to have another upward price movement.


All the Moving Averages have been broken, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.2327, which could be a departure point for another decline.



DAX buscando nuevos altos por encima de 12,500

El DAX ha estado favorecido por los toros en el corto plazo, tras una recuperación vivida desde los bajos del 13 de Marzo, en donde hubo una aproximación al nivel Fibonacci de 50% en 12099…



Morning brief for May 30

 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…

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