EURUSD → The double top prepares the pair for weakening

3. Apr. 2023

EURUSD is stalling after an active rally. The price has tested the resistance of the range, making a false break of the strong line and forming a pattern "Double Top".

The price is in an uptrend, but within the framework of this movement a stop is formed and a transition into the phase of sideways flat. The resistance is tested and now the price needs additional liquidity, which is behind the support.
The double top defines the potential for the near future

I expect reduction in price, the currency pair passes down through the local density zone and consolidates under it - sellers start to build the situation. Short-term target for the sale - support 1.07250, medium-term target - 1.06000

Regards R.Linda!