EUR/USD: "Double Top" stopped bulls

EUR/USD: "Double Top" stopped bulls

EUR/USD: "Double Top" stopped bulls

Bulls faced a resistance at 1.0951, so we’ve got a “Double Top”, which pushed the price to the previously broken “Wedge” pattern. Therefore, the market is likely going to decline towards a support 1.0819 – 1.0729. If a pullback from this area happens, 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, so the price is consolidating. In this case, bears are likely going to test a support area between the levels 1.0819 – 1.0777. However, if a pullback from these levels happens, bulls will probably try to achieve a resistance at 1.0855.



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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