EUR/USD: 'Double Bottom' pattern

EUR/USD: 'Double Bottom' pattern

4-4-2018-EUR-H4.png

There's a 'Double Bottom' pattern, but the price remains under the Moving Averages. The main intraday target is the nearest resistance at 1.2335 - 1.2344, which could be a departure point for another decline.

4-4-2018-EUR-H1.png

The 55 Moving Average acted as resistance, so there's a 'Thorn' pattern. In this case, the pair is likely going to test the closest support at 1.2272 - 1.2253. If we have a pullback from this area, there'll be a moment for an upward price movement.

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