EUR/USD: 'Double Bottom' pattern

EUR/USD: 'Double Bottom' pattern

1-6-2018-EUR-H4.png

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.

1-6-2018-EUR-H1.png

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.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.

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