EUR/USD: "Double Top" pattern

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.



EUR/GBP holding the 65% Fibo zone

EUR/GBP consolidates the price action above the Fibonacci zone of 65%, which is currently being held due that it’s proven to be a strong nut to crack across the board…


Morning brief for May 30

 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…

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