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EUR/USD: "Triple Top" stand in the way of bulls

EUR/USD: "Triple Top" stand in the way of bulls

There’s a “Triple Top” pattern, so the market is likely going to get a support at 1.1120 – 1.1113 in the short term. However, if a pullback from this area happens, there’ll an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1186 – 1.1222.

EUR/USD: "Triple Top" stand in the way of bulls

As we can see on the one-hour chart, there’s a “Triple Top” as well, which led to the current local consolidation between the 34 & 89 Moving Averages. Therefore, the pair is likely going to decline towards a support at 1.1120 – 1.1113. If we see a pullback from these levels, bulls will probably try to catch a resistance at 1.1186 – 1.1196.

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