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EUR/USD: "Double Top" stopped bullish correction

EUR/USD: "Double Top" stopped bullish correction

The local downward trend has acted as a resistance, which led to form a “V-Top” pattern, so the price started consolidating. Therefore, the market is likely going to get a resistance on the 34 Moving Average, but if a pullback from this line happens, bears will probably try to move on. In this case, we should keep an eye on the nearest support at 1.0911.

EUR/USD: "Double Top" stopped bullish correction

There’s a “Double Top”, so we’ve got an intraday flat. It’s likely that the price is going to reach a resistance at 1.1001 – 1.1015 shortly. However, if we see a pullback from this area, there’ll be a chance to have another downward movement.

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