EUR/USD Close To Double Top

The EUR/USD pair is now trading close to double top. The Euro made a strong comeback this year as it went as low as 1.05 and slowly but surely made its way to highs around 1.20. The pair is currently trading at 1.1950 and it appears that it's ready to move further up.

If it reaches 1.1965 this would create a double top and potentially there is a chance that the trend would turn around. However, if the trend persists to the upside due to increased buying momentum, we are to see a break above the double top resistance and a continuation of the upward move.

First bull target is seen at 1.1965, if this is taken over, second bull target is the level at 1.2050 and third bull target is seen at 1.2150. On the other hand, weak buying pressure could expose the pair to uncertain times. First bear target is seen at 1.1730, second bear target is seen at 1.1640 and third bear target rests at 1.1550.

Chart: EUR/USD H4