EUR/USD: confirmed 'Double Bottom' pattern

EUR/USD: confirmed 'Double Bottom' pattern


The main trend is still bearish, but there's a 'Double Bottom' pattern, so the pair is likely going to test the nearest resistance at 1.1661 - 1.1717. A pullback from this area could be a departure point for another decline.


We've got a 'Double Bottom', which has been confirmed, so the market is rising. It's likely that the price is going to test the closest resistance at 1.1699 - 1.1717 in the coming hours. If a pullback from these levels forms little later on, bears will probably try to deliver a new local low.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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