EUR/USD: "Double Top" pattern

EUR/USD: "Double Top" pattern

22-11-2017-EUR-H4.png

There's a "Double Top" pattern, which has been confirmed, so the price is consolidating. The main intraday target is the 55 Moving Average. If a pullback from this line happens little later on, bulls will probably try to reach another resistance at 1.1743 - 1.1767.

22-11-2017-EUR-H1.png

The price is consolidating between the Moving Averages, so there's a confirmed "Double Bottom" pattern. In this case, the market is likely going to reach the nearest resistance at 1.1767. This level could be a departure point for a decline towards the next support at 1.1712 - 1.1689.

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