EUR/USD: bullish "Double Bottom"

EUR/USD: bullish "Double Bottom"

19-10-2017-EUR-H4.png

There's a bullish "Double Bottom", so the price is consolidating under the 89 Moving Average. The main intraday target is the nearest resistance area at 1.1822 - 1.1875, which could be a departure point for a bearish correction.

19-10-2017-EUR-H1.png

The price is consolidating between the levels 1.1819 - 1.1793. If a pullback from the 89 MA happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1848 - 1.1860.

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