EUR/USD: "Double Top" brings back bears to life
The price has faced a support, which led to the local flat under the 89 Moving Average. Therefore, the market is likely going to reach the next support at 1.1217 in the short term. However, if a pullback from this level happens, an upward correction becomes possible.
There’s a “Double Top” pattern at the last highs, which has been confirmed. The price is trying to break the last minimum. So, the market is likely going to achieve a support area between the levels 1.1255 – 1.1245. If bears be stopped here, bulls will probably deliver a local correction.