EUR/USD’s has faced rejection at 1.2177 two times this month. The 4-hour chart shows a double top pattern. EUR/USD is trading just above 1.2150 at press time, having faced rejection at the Dec. 4 high of 1.2177 on Monday. On the 4-hour chart, a double top at 12177 has been confirmed with the neckline support at 1.2059. A break below that level would confirm a double top breakdown, a bearish reversal setup, and shift risk in favor of a drop to 1.1941 (target as per the measured move method). On the higher side, the pair needs to establish a foothold above 1.2177 to invalidate the double top and keep the bullish trend going. The currency pair has rallied by over 550 pips since the beginning of November, despite the resurgence of coronavirus across major Eurozone economies and the dovish European Central Bank. 4-hour chart Trend: Bullish above 1.2177 Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P: No-deal Brexit could threaten UK credit rating FX Street 2 years EUR/USD's has faced rejection at 1.2177 two times this month. The 4-hour chart shows a double top pattern. EUR/USD is trading just above 1.2150 at press time, having faced rejection at the Dec. 4 high of 1.2177 on Monday. On the 4-hour chart, a double top at 12177 has been confirmed with the neckline support at 1.2059. A break below that level would confirm a double top breakdown, a bearish reversal setup, and shift risk in favor of a drop to 1.1941 (target as per the measured move method). On the higher side, the pair needs to establish a foothold… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
