EUR/USD: "Double Top" still pushing price lower

EUR/USD: "Double Top" still pushing price lower

EUR/USD: "Double Top" still pushing price lower

The main trend is still bearish. The price faced a support at 1.0600, so there’s a developing upward correction. Nevertheless, the market is likely going to reach the next support at 1.0571 in the short term. If a pullback from this level happens, we should keep an eye on the nearest resistance at 1.0655 as an intraday bullish target. 

EUR/USD: "Double Top" still pushing price lower

The price is testing the downtrend, which is likely going to be broken in the coming hours. So, the main intraday target is a support at 1.0588 – 1.0578. If we see a pullback from these levels, bulls will probably try to achieve the closest resistance at 1.0594 – 1.0655.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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