EUR/USD: "Double Top" pattern

EUR/USD: "Double Top" pattern

16-11-2017-EUR-H4.png

The price faced with resistance at 1.1857, so there's a "V-Top" pattern, which pushed the pair to the nearest support at 1.1767 - 1.1743. If a pullback from this area happens little later on, there'll be an opportunity to have a bullish price movement towards another resistance at 1.1836 - 1.1857.

16-11-2017-EUR-H1.png

There's a "Double Top" pattern, but the market faced with support at 1.1767, so the price is consolidating. In this case, we could have an upward price movement in the direction of another resistance at 1.1804 - 1.1820. However, if a pullback from these levels happens afterwards, there'll be time for a decline towards the closest support at 1.1767 - 1.1742.

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