Decline After Double Top Formation, EURUSD Still Likely to Decrease

The EURUSD pair exhibited significant volatility during trading on Wednesday, soaring approximately 140 pips before reversing direction. On Thursday (April 10, 2025), the EURUSD appears to be forming a Triangle pattern.

The Stochastic indicator is trending upward and is nearing the overbought territory; upon reaching this zone, the likelihood of a further decline increases.

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On the 15-minute chart, EURUSD has dipped following a breach below the 1.10000 level, which marks the neckline of the Double Top pattern. This break of the neckline serves as confirmation of the Double Top, indicating a bearish outlook.

As long as it remains below 1.10000, EURUSD still carries the potential to drop to approximately 1.09600.

Technical References: sell while below 1.10000
Potential Take Profit 1: 1.09600
Potential Take Profit 2: 1.09400
Potential Stop Loss 1: 1.10000
Potential Stop Loss 2: 1.10200