EUR/USD: "Double Top" pushed price lower

EUR/USD: "Double Top" pushed price lower

24-5-2017-EUR-H4.png

We've got a "Double Top" pattern, so the price is consolidating. So, the market is likely going to decline towards the nearest support at 1.1139 - 1.1103. If a pullback from this area happens, we could have another bullish price movement towards the next resistance at 1.1287 - 1.1307.

24-5-2017-EUR-H1.png

The last "Double Top" pushed the price lower, so bears meet with support at 1.1171. Also, there's a "Flag" pattern, so the pair is likely going to get support on the 89 Moving Average. At the same time, if we see a pullback from this line, bulls will have an opportunity to reach the closest resistance at 1.1249 - 1.1267.

eur

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