EUR/USD: "Double Bottom" pattern

2019-11-11 • Updated

14-3-2018-EUR-H4 (1).png

The main trend is still bullish. Also, there's a "Double Bottom" pattern, which has been confirmed. Therefore, the market is likely going to test the next resistance at 1.2445 - 1.2474 in the short term. If a pullback from this area happens little later on, there'll be a moment to have a decline towards the nearest support at 1.2384 - 1.2359.

14-3-2018-EUR-H1 (1).png

The pair faced with resistance at 1.2415, so there's a "V-Top" pattern. In this case, we should keep an eye on the closest support at 1.2384 - 1.2363 as an intraday target. A pullback from these levels could be a departure point for another bullish price moment.


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