EUR/USD: 'Double Top' led to decline

EUR/USD: 'Double Top' led to decline


There's a 'Double Top', which has been confirmed, so the price is declining. However, all the Moving Averages have acted as support. Even so, the pair is likely going to test the next support at 1.1574 - 1.1529. A pullback from this level could be a starting point for an upward correction.


It seems like there's a 'Triple Bottom', so the market is likely going to reach the nearest resistance at 1.1661 - 1.1679. If a pullback from this area happens next, there'll be time for a decline towards another support at 1.1574 - 1.1552.



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