EUR/USD: 'Double Top' led to decline

EUR/USD: 'Double Top' led to decline


The main trend is still bearish. It's likely that the pair is going to test the next support at 1.1591 - 1.1565. If a pullback from this area happens next, there'll be an opportunity to have an upward correction towards the nearest resistance at 1.1612 - 1.1649.


The last 'Double Top' led to the current decline, so all the Moving Averages have been broken. The main intraday target is the closest support at 1.1590 - 1.1565. These levels could be a starting point for a bullish correction.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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