EUR/USD: "V-Top" pattern

EUR/USD: "V-Top" pattern


We've got a "V-Top" pattern, so the price reached the nearest support at 1.1657. However, bears are likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have another upward price movement in the direction of the closest resistance at 1.1712 - 1.1757.


The price is consolidating near the 55 Moving Average. Also, there's a "Pennant" pattern, so the pair is likely going to decline in the direction of the 89 MA. If we have a pullback from this line, bulls will have a green light to achieve resistance at 1.1712 - 1.1757.




EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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