EUR/USD: "Double Bottom" pattern

EUR/USD: "Double Bottom" pattern


There's a "Double Bottom" pattern, which has been confirmed, so the price is consolidating. The main intraday target is the nearest resistance at 1.1846 - 1.1875. If a pullback from this area happens, there'll be an opportunity to have a decline in the direction of the 34 Moving Average.


We've got a "Triple Top" pattern right under resistance at 1.1827. So, the price is likely going to test the 55 Moving Average in the short term. If a pullback from this line happens, bulls will probably try to achieve the closest resistance at 1.1827 - 1.1838.




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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