EUR/USD: "Double Top" pattern

EUR/USD: "Double Top" pattern

1-8-2017-EUR-H4.png

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.

1-8-2017-EUR-H1.png

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.

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