EURUSD rangebound after forming a double top

From xm.com

video EURUSD experienced a solid correction from its recent four-month high of 1.1016, but the pair managed to erase most of it, following a decisive break above the 200-day simple moving average (SMA). However, the rebound faltered just shy of the latest peak, underscoring the case of a double top structure. Considering that both the RSI and stochastics are showing signs of fading positive momentum, the price could reverse lower towards the recent support of 1.0964. Sliding below that zone, the pair may challenge the November support of 1.0827, which lies very close to the 200-day SMA. Further retreats could then ... (full story)