01.03.2018
EURUSD
The pair has formed the classic Double Top reversal pattern. The tendencies are generally positive and will continue pressuring the pair.
The price is below the middle line of the borders of Bollinger bands, above EMA 5, but below EMA 13. RSI is leaving the oversold zone. Stochastic oscillators aren’t informative.
Trading recommendations:
The pair may return to 1.2240 level, which is the neckline of the reversal pattern. If the price remains below, the pattern will be completely formed and the pair may go down to 1.2065.
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