As we can see from the chart, EURUSD has formed a very clear DOUBLE TOP pattern. Such a pattern means that there is a potential for a BEARISH trend . Oscillators confirm that the pair is overbought as well as price action patterns and the overall trend is BEARISH . We conclude that EURUSD is likely to continue BEARISH at least for the medium term. The following are the main levels according to the double top pattern:
Double tops: 1.1470
Neckline: 1.1300
Top to Neckline=X=(1.1470-1.1300)=0.0170
Possible target= Neckline-X=1.1300-0.0170=1.1130
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Double tops: 1.1470
Neckline: 1.1300
Top to Neckline=X=(1.1470-1.1300)=0.0170
Possible target= Neckline-X=1.1300-0.0170=1.1130
If you like this idea and would like more tutorials please like it and follow us for more!!
