WaveSavvyTrades

EURUSD DOUBLE TOP + WAVE ANALYSIS

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OANDA:EURUSD   ユーロ/米ドル
The price of this symbol has made a double top, and has began a move down towards the neck area of the double top. Also the price is moving down in a wave-like fashion which fits elliot wave pattern. Price is currently retracting to form wave 4, and could find resistance at 1.0841 - 1.0853 (0.5 fib and 0.618 fib of wave 2 respectively). If the resistance hold, I expect price to proceed to the neck region (price of 1.0725) and possibly break the neck region to continue downwards to 1.0535 to complete the double top structure.

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