- EUR/USD retreats to 1.1735, having faced rejection above 1.19 last Thursday.
- The pair failed to keep gains above 1.19 on July 31.
- Daily chart now shows a double top pattern with neckline at 1.1696.
EUR/USD looks to have formed a double top bearish reversal pattern on the daily chart with the neckline support at 1.1696 (Aug. 3 low).
A daily close below that level would confirm the double top breakdown and create room for a sell-off to 1.1475 (target as per the measured height method).
At press time, the pair is sidelined near 1.1735, having declined for the second straight trading day on Monday.
A move to the double top necklines support at 1.1696 looks likely with the recent candlestick arrangement signaling a bullish-to-bearish trend change and bearish divergences of the the 14-day relative strength index and the slow stochastic.
Daily chart
Trend: Bearish
Technical levels
Dicetak ulang dari FXStreet， hak cipta semua dimiliki oleh penulis asli.
Peringatan: Pendapat yang disampaikan sepenuhnya merupakan milik penulis dan tidak mencerminkan posisi resmi Followme. Followme tidak bertanggung jawab atas keakuratan, kelengkapan, atau keandalan informasi yang disediakan, serta tidak bertanggung jawab atas tindakan apa pun yang diambil berdasarkan konten ini, kecuali dinyatakan secara tertulis.
Tinggalkan pesan Anda sekarang