EUR/USD: 'Double Bottom' pattern

EUR/USD: 'Double Bottom' pattern


The main trend is still bearish, but there's a 'Double Bottom', so the price is rising. It's likely that the market is going to test the next resistance at 1.1762 - 1.1799, which could be a departure point for another decline.


There's a possible 'Triangle', which hasn't been finished yet. In this case, we should keep an eye on the nearest support at 1.1679 - 1.1661 as an intraday target. If a pullback from this area happens little later on, there'll be a moment to have an upward price movement towards the next resistance at 1.1749 - 1.1762.



Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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