EUR/USD: "Double Top" pushed price lower

Read the article on FBS website

EUR/USD:

The main trend is still bearish. There’s a “Double Top” pattern, so the price is still under the Moving Averages. Therefore, the market is likely going to decline towards a support at 1.0571, which could be a departure point for an upward correction.

EUR/USD:

The price faced a resistance at 1.0678, so we’ve got a “Triple Top” pattern. In this case, the pair is likely going to test the nearest support at 1.0578 – 1.0569. If a pullback from this area happens, bulls will probably try to achieve a resistance at 1.0594 – 1.0655.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.