EURUSD: bearish "Triple Top" pattern

EURUSD: bearish "Triple Top" pattern


The main trend is still bullish, but there's a bearish "Triple Top" pattern, so the market is likely going to test the nearest support area at 1.2129 - 1.2080. If a pullback from these levels happens little later on, there'll be an opportunity to have another upward price movement towards the next resistance at 1.2296 - 1.2322.


The 55 Moving Average has acted as support, so the price is consolidating. In this case, we should keep an eye on the closest resistance at 1.2246 - 1.2272 as an intraday target. This area could be a departure point for a decline in the direction of the nearest support at 1.2129 - 1.20280.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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