EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: "Double Top" pattern
Bulls faced resistance at 1.1846, so the price is consolidating. Therefore, the market is likely going to reach the nearest support at 1.1776 in the short term. If we see a pullback from this level, there'll be an opportunity to have another upward price movement in the direction of the next resistance at 1.1875 - 1.1923.
There's a "Double Top" pattern, so bears are likely going to achieve the closest support at 1.1801 - 1.1776. However, if a pullback from this area happens, bulls will have a green light to test the nearest resistance at 1.1846 - 1.1875.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.