EUR/USD: 'Three Methods' pushed market lower
The price reached the 144 Moving Average, but there's no any bullish pattern so far. Thus, the price is likely going to test the next support...
EUR/USD: "Double Top" pattern
The main trend is still bullish, but there's a "Double Top" pattern, which has been confirmed. So, the pair is likely going to test the nearest support at 1.2300 - 1.2272 in the short term. If a pullback from this area happens little later on, there'll be a moment to have another bullish price movement.
The 89 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to achieve the closest resistance at 1.2398. This level could be a departure point for a decline towards the next support at 1.2300 - 1.2272.
Sergey Logachev
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