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. It's likely that the market is going to test the nearest resistance at 1.2299 - 1.2314. If a pullback from this area happens little later on, there'll be a moment for a decline.


The 89 Moving Average has acted as resistance, so there's a developing 'Flag' pattern. In this case, the pair is likely going to test the 34 MA, which could be a departure point for another bullish price movement.



Latest news

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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