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EUR/USD: "Double Top" prevented further bullish steps

EUR/USD: "Double Top" prevented further bullish steps

The price faced a resistance at 1.1120, which led to form a “V-Top” pattern, so we’ve got a local decline. Therefore, the market is likely going to achieve the nearest support area’s lower side at 1.1032. However, if a pullback from this level happens, there’ll be an opportunity to have an upward correction in the direction of a resistance at 1.1145 – 1.1166.

EUR/USD: "Double Top" prevented further bullish steps

As we can see on the one-hour chart, bulls found a resistance at 1.1120, so we’ve got a “Double Top” pattern here. The main intraday target is the closest support at 1.1059 – 1.1041. At the same time, bulls are likely going to catch a resistance at 1.1125 – 1.1145 soon.

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