guttsman007

EU's resistance at 1.17-1.172-ish. Double top confirmed

OANDA:EURUSD   Euro / U.S. Dollar
EU has been in an uptrend since last week. It seems to have hit a strong area of resistance around 1.17-1.172. As you can see on the 2hr tf, it makes what we'd all call a double top, a signal for bearishness. However currently EU falls back on the trendline as I've shown. A break above the resistance area as highlighted would prove that the uptrend would be clearly in motion. But as of right now if EU breaks this trendline, we're looking at a potential area for support to be roughly 1.164-ish
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