08.01.2018
EURUSD
The pair is in a downtrend after reaching another local maximum point last week. The local decline is likely to continue if the double top pattern is formed.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is passing the level of 50% downwards. Stoch aren’t informative.
Trading recommendations:
If the level of 1.2000 at the neck of the double top pattern is breached, the price may fall down to 1.1935.
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