EUR/USD: "Double Top" pattern

EUR/USD: "Double Top" pattern


The price is consolidating between resistance at 1.1267 and support at 1.1171. Also, we've got a "Double Top" pattern, so the market is likely going to decline towards the nearest support at 1.1103 - 1.1075. If we see a pullback from this area, there'll be an opportunity to have another bullish price movement in the direction of the last high.


There's a consolidation, which is taking place along the Moving Averages. The 89 Moving Average has acted as support, so bulls are likely going to get resistance on the 34 Moving Average in the coming hours. However, if a pullback from this line happens, bears will have a chance to reach the closest support at 1.1139 - 1.1103.



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