There’s a “Double Top” pattern, which has been confirmed. The price faced a support at 1.1245, so we’ve got a downward correction in progress. It’s likely to see the market lower. If the pair forms a pullback from a support area at 1.1217 – 1.1193, then bulls will probably return and try to reach a resistance at 1.1305 – 1.1337.
We’ve got a downward flat in a range of possible “Wedge” pattern. If a pullback from its upper side appears, then the price is likely going to reach the lower side and a support at 1.1193. Finally, there’s an opportunity to see bulls on the market again, so a resistance at 1.1305 – 1.1337 is a still important.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
