EUR/USD: 'Double Top' pattern

EUR/USD: 'Double Top' pattern


There's a 'Double Top' pattern, so the price is declining. In this case, the market is likely going to test the Moving Averages, which could be a departure point for another upward price movement.


The price is testing the 55 Moving Average. Considering the last 'Pennant' pattern, the pair is likely going to test the nearest support area at 1.2348 - 1.2331. If a pullback from this area happens little later on, there'll be a moment for a bullish price movement in the direction of the next resistance at 1.2445 - 1.2476.



Latest news

USD/CHF may rise a bit

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

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