EUR/USD: local 'V-Top' pattern

EUR/USD: local 'V-Top' pattern


Bears faced with support at 1.2186, so the market is consolidating. At the same time, there's a local 'V-Top' pattern, which means the market is likely going to test the next support at 1.2164 - 1.2154 in the coming hours.


The price is declining because of the last 'Double Top' pattern. The main intraday target is the nearest support at 1.2186 - 1.2164, which could be a departure point for an upward correction.



Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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