EUR/USD: "Double Top" stopped bulls

EUR/USD: "Double Top" stopped bulls

EUR/USD: "Double Top" stopped bulls

The main trend is still bearish. The price faced a resistance at 1.0781, so we’ve got a “Double Top” pattern, which led to decline to a support at 1.0713. However, bears are likely going to continue moving down towards the next support at 1.0701 – 1.0688. If a pullback from this area be on the table, there’ll be an opportunity to have another bullish price movement.

EUR/USD: "Double Top" stopped bulls

There’s a “Double Top”, which has been confirmed. Therefore, the market is likely going to reach the nearest support at 1.0698 – 1.0688. Meanwhile, if we have a pullback from these levels, bulls will probably try to achieve a resistance at 1.0759 – 1.0781.



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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