EUR/USD: "Triple Top" stopped bulls

EUR/USD: "Triple Top" stopped bulls

18-5-2017-EUR-H4.png

Bulls have faced resistance at 1.1152, so we've got a "V-Top" pattern. Therefore, the price is likely going to decline towards the nearest support at 1.1122 - 1.1102. If a pullback from this area happens, there'll be an opportunity to have another upward price movement in the direction of the next resistance at 1.1198 - 1.1212.

18-5-2017-EUR-H1.png

There's a "Triple Top" pattern, which has been confirmed, so the price is consolidating. The main intraday target is the closest support at 1.1122 - 1.1103, which could be a departure point for a bullish rally towards resistance at 1.1171 - 1.1198.

eur

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