EUR/USD: "Double Top" brought hundreds of bears into the market
We’ve got a confirmed “Double Top” pattern, which led to extremely fast decline. Finally, the price formed a “Thorn” and reached a resistance at 1.1188 afterwards. Therefore, the market is likely going to achieve the next resistance at 1.1219 – 1.1241. However, if a pullback appears later on, bears will likely try to catch a support at 1.1145 – 1.1032.
Bears finally formed a “V-Bottom” pattern, so the market is likely going to reach a resistance at 1.1222 – 1.1241 in the short term. If a pullback from this area happens afterwards, a decline towards a support at 1.1154 – 1.1032 becomes possible.