EUR/USD: "V-Top" pattern

EUR/USD: "V-Top" pattern

26-7-2017-EUR-H4.png

Bulls faced resistance at 1.1712, so we've got a "V-Top" pattern, which has been confirmed. Therefore, the market is likely going to test the nearest support at 1.1615 - 1.1582. If a pullback from this area happens, the price will probably test the last high.

26-7-2017-EUR-H1.png

We've got a "V-Top" pattern, so the price is testing the 34 Moving Average. In this case, bears are likely going to reach the closest support at 1.1615 - 1.1582 during the day. Meanwhile, there's an opportunity to have another bullish price movement afterwards.

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