EUR/USD: "Double Top" led to decline

EUR/USD: "Double Top" led to decline

21-3-2018-EUR-H4.png

The main trend is still bullish. Also, there's a "Double Top" pattern, which has been confirmed. Moreover, all the Moving Averages have been broken, so the market is likely going to test the next support at 1.2234 - 1.2205. If a pullback from this area happens little later on, there'll be a moment for another upward price movement.

21-3-2018-EUR-H1.png

The last "Double Top" pattern led to the current decline. The main intraday target is the closest support area at 1.2205, which could be a departure point for a bullish price movement towards the 34 Moving Average.

eur

Similar

Popular

Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera