The pair has breached a key ascending trendline, so a pullback could be on the cards. The pair could be forming a double top bearish reversal pattern with a neckline support at 109.42. A break below 109.42 would allow a drop to 109.10 – target as per the measured height method. 15-minute chart Spot Rate: 109.62 Daily High: 109.77 Daily Low: 109.45 Trend: Bearish Resistance R1: 109.77 (session high) R2: 110.17 (200-day moving average) R3: 110.48 (Feb. 2 high) Support S1: 109.42 (double top neckline) S2: 108.82 (38.2% Fib R of 104.63-111.40) S3: 108.53 (rising/bullish 50-day moving average) 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 Official: Merkel comments on Eurozone reform show move – Reuters FX Street 5 years The pair has breached a key ascending trendline, so a pullback could be on the cards. The pair could be forming a double top bearish reversal pattern with a neckline support at 109.42. A break below 109.42 would allow a drop to 109.10 - target as per the measured height method. 15-minute chart Spot Rate: 109.62 Daily High: 109.77 Daily Low: 109.45 Trend: Bearish Resistance R1: 109.77 (session high) R2: 110.17 (200-day moving average) R3: 110.48 (Feb. 2 high) Support S1: 109.42 (double top neckline) S2: 108.82 (38.2% Fib R of 104.63-111.40) S3: 108.53 (rising/bullish 50-day moving average) 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.
