Double top on EUR/USD

Double top on EUR/USD

The current technical pattern indicates the correction of the EUR/USD currency pair after significant growth over the past two weeks. The trading instrument held the local offer zone of 1.22850-1.23150, which triggered the bearish sentiment. At the moment, a classic reversal figure of the technical analysis, Double top, (H1 timeframe) was formed. The 1.22000 level is the key support. We recommend paying attention to this formation.

If the price fixes below 1.22000, you need to look for entry points to the market to open short positions. The immediate goal for profit-taking is 1.21500. In the medium term, EUR/USD can reach the "mirror" support at 1.20750. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.01.17

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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