EURUSD forms a double top Turning BEARISH
Updated
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!!
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