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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

EUR/USD: "Double Top" stopped bulls for a while

Sergey Logachev

EUR/USD: "Double Top" stopped bulls for a while

The price faced a resistance at 1.1376, which led to the current downward movement. It's likely that there's a bearish pattern in progress. So, the market is probably going to reach a support at 1.1326 – 1.1316. If a pullback from these levels appears, a rise towards the nearest resistance at 1.1376 – 1.1412 becomes possible.

EUR/USD: "Double Top" stopped bulls for a while

There's a “Double Top” at the local high. If it be confirmed, the market is likely going to get a support at 1.1325. Considering a possible pullback from this level, we should keep an eye on the upper resistance at 1.1371 – 1.1400 as a short term bullish goal. 

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