EUR/USD: "V-Top" at the local high

EUR/USD: "V-Top" at the local high

2019-11-11 • Updated

17-5-2017-EUR-H4.png

The price has been rising since a "Triple Bottom" was formed at the last low. However, bulls faced resistance at 1.1122, so there's an opportunity to have a downward correction towards the nearest support at 1.1066. If we see a pullback from this level, we should keep an eye on resistance at 1.1122 - 1.1152 as the next bullish target.

17-5-2017-EUR-H1.png

We've got a "V-Top" at the local high. If this pattern confirms, bears are likely going to test support at 1.1066. Meanwhile, if we a pullback from this level happens, bulls will try to push the price even higher.

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