EUR/USD: "Double Top" stopped bulls for a while
There’s a “V-Top” pattern, which led to decline towards the Moving Averages. So, the market is likely going to get a support at 1.1165 in the short term. If a pullback from this level happens, there’ll be an opportunity to have another upward movement, so we should keep an eye on the nearest resistance at 1.1256 as a possible intraday target.
We’ve got a “Double Top” pattern, which has been confirmed. Therefore, bears are likely going to deliver an achievement of the nearest support at 1.1168 during the day. At the same time, if we see a pullback from this level, bulls will probably try to catch a resistance at 1.1241 – 1.1260.