EUR/USD Double Top Reversal Analysis
The chart illustrates a classic double top pattern at a significant resistance zone around 1.1642. The price formed two peaks (Top 1 and Top 2) indicating strong seller presence and potential exhaustion of bullish momentum.
A Change of Character (ChoCh) and Break of Structure (BoS) signals a shift from bullish to bearish bias. The projected move suggests a bearish reversal with clear downside targets:
1st Target: 1.14500 zone – a minor support level and previous consolidation base.
2nd Target: 1.13660 zone – a stronger demand area visible from past reactions.
3rd Target: 1.12230 zone – aligns with a major support and potential longer-term reversal point.
a logical Stop Loss (SL) would be placed just above the second top, to protect against a false breakout.
Recommended SL:
SL: 1.16600
This level is slightly above the 1.1642 resistance zone and second top, allowing room for volatility while invalidating the setup if broken.
The chart illustrates a classic double top pattern at a significant resistance zone around 1.1642. The price formed two peaks (Top 1 and Top 2) indicating strong seller presence and potential exhaustion of bullish momentum.
A Change of Character (ChoCh) and Break of Structure (BoS) signals a shift from bullish to bearish bias. The projected move suggests a bearish reversal with clear downside targets:
1st Target: 1.14500 zone – a minor support level and previous consolidation base.
2nd Target: 1.13660 zone – a stronger demand area visible from past reactions.
3rd Target: 1.12230 zone – aligns with a major support and potential longer-term reversal point.
a logical Stop Loss (SL) would be placed just above the second top, to protect against a false breakout.
Recommended SL:
SL: 1.16600
This level is slightly above the 1.1642 resistance zone and second top, allowing room for volatility while invalidating the setup if broken.
Note
If the price fails to reclaim the double top region and confirms a lower high, these targets remain valid as momentum shifts in favor of sellers.
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🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
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Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.