EUR/USD: "Double Bottom"

EUR/USD: "Double Bottom"

5-12-2017-EUR-H4.png

Bears faced with support at 1.1826, so the price is consolidating. However, the market is likely going to continue declining towards the next support at 1.1808 - 1.1792. If a pullback from this area happens, we could have an upward correction in the direction of the nearest resistance at 1.1859 - 1.1909.

5-12-2017-EUR-H1.png

There's a "Double Bottom", so the price is consolidating. The main intraday target is the nearest support at 1.1808 - 1.1792. If a pullback from this area happens little later on, there'll be an opportunity to have a bullish price movement towards the closest resistance at 1.1871 - 1.1890.

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EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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