EUR/USD: "Double Top" pattern

EUR/USD: "Double Top" pattern

23-8-2017-EUR-H4.png

There's a "Double Top" pattern, which has been confirmed. So, the price reached the nearest support at 1.1757, which led to a consolidation. In this case, the market is likely going to test the next support at 1.1712 - 1.1683. If a pullback from this levels happens, there'll be an opportunity to have an upward price movement towards the closest resistance at 1.1801 - 1.1846.

23-8-2017-EUR-H1.png

The price is consolidating near the Moving Averages. Also, there's a bearish "Pennant" pattern, so the pair is likely going to achieve the next support at 1.1720 - 1.1708 during the day. If we have a pullback from these levels, bulls will probably try to reach resistance at 1.1798 - 1.1801.

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