2015-07-23_00-11-19eurusd

Let us stick to the eurusd chart to give you my viewpoint of what is most probably going to happen next.

Price moved up from support with a double bottom pattern. It proceeded north to the next area of resistance and provided us with a double top as seen with the numbers 1 and 2.

The retracement went just on for a little please see number 3 where price then provided us with a lower high at number 4.

Price is as we speak at resistance where the 200 MA is in control.

If this MA holds price below it and if the double top is not taken out then the most likely target is price to move towards number 5.

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