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EUR/USD: "Double Bottom" pattern

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24-8-2017-EUR-H4.png

There's a "Double Bottom" pattern, which has been confirmed, so the price is consolidating. The main intraday target is the nearest resistance at 1.1846 - 1.1875. If a pullback from this area happens, there'll be an opportunity to have a decline in the direction of the 34 Moving Average.

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We've got a "Triple Top" pattern right under resistance at 1.1827. So, the price is likely going to test the 55 Moving Average in the short term. If a pullback from this line happens, bulls will probably try to achieve the closest resistance at 1.1827 - 1.1838.

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