EUR/USD: "Double Top" pattern

EUR/USD: "Double Top" pattern

30-1-2018-EUR-H4.png

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.

30-1-2018-EUR-H1.png

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.

eur

Similar

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera