EUR/USD: 'Double Top' pattern

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There's a 'Double Top' pattern, so the price is declining. In this case, the market is likely going to test the Moving Averages, which could be a departure point for another upward price movement.

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The price is testing the 55 Moving Average. Considering the last 'Pennant' pattern, the pair is likely going to test the nearest support area at 1.2348 - 1.2331. If a pullback from this area happens little later on, there'll be a moment for a bullish price movement in the direction of the next resistance at 1.2445 - 1.2476.

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