EUR/USD: "V-Top" pattern led to decline

EUR/USD: "V-Top" pattern led to decline

21-11-2017-EUR-H4.png

The price faced with resistance at 1.1821, so there's a "V-Top". Therefore, the pair is likely going to test the 55 Moving Average in the short term. If a pullback from this line happens little later on, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1742 - 1.1767.

21-11-2017-EUR-H1.png

The 89 Moving Average is acting as support, but bears are likely going to reach another support at 1.1724 - 1.1689. This area could be a departure point for a bullish price movement in the direction of the closest resistance at 1.1742 - 1.1767.

eur

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