EUR/USD: 'V-Top' pattern

EUR/USD: 'V-Top' pattern

11-4-2018-EUR-H4.png

Bulls faced with resistance at 1.2387, so we could have a local downward correction in the short term. Nevertheless, the market is likely going to test the next resistance at 1.2421 afterwards.

11-4-2018-EUR-H1.png

There's a 'V-Top' pattern, so bears are likely going to reach the nearest support at 1.2358. However, if a pullback from this level happens little later on, there'll be an opportunity to have another upward price movement.

eur

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