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EUR/USD: one More "V-Top" Pattern

Sergey Logachev

EUR/USD: one more "V-Top" pattern

Yesterday the price was moving up and down in a range between the 89 Moving Average and one of the strongest resistances on the chart at 1.1412. The market is likely going to get a resistance at 1.1326 – 1.1341 in the short term. If so, it'll be an open door for a decline towards a support at 1.1284 – 1.1259.

EUR/USD: one more "V-Top" pattern

We've got a “V-Top” pattern, which led to the current downward movement. The price found a support at 1.1259, so there’s a local upward correction in progress. Therefore, bulls are probably going to taste a resistance at 1.1326 – 1.1341. If we see a pullback from this area, bears will have a chance to return to the market.

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