EUR/DKK 4H Chart: Double Top

Assumptions behind the Double Top pattern are very similar to the ones with Triple Top pattern—pair fails to reach new high and gradually returns to the previous trading levels. However, at the same time they are somewhat weaker than in Triple top pattern. Pair tried to reach new high only twice. This is reflected in the short and medium term technicals as quite a few of them give neutral individual outlook. It indicates that for the time being, while the pair is trading on the pattern's support and we cant see strong consolidation on any side of it, we should refrain from planning any trades.