EUR/USD: "Double Bottom"

EUR/USD: "Double Bottom"

29-9-2017-EUR-H4.png

There's a "Double Bottom", so the price reached the nearest resistance at 1.1793. Meanwhile, the market is likely going to continue moving up towards the next resistance at 1.1822 - 1.1837. If a pullback from this area happens, we could have a decline in the direction of the closest support at 1.1793 - 1.1772.

29-9-2017-EUR-H1.png

The price is consolidating between the levels 1.1772 - 1.1793. Also, we've got a "Pennant" pattern, which has been broken. So, we bulls are likely going to reach the next resistance at 1.1822 - 1.1837 in the coming hours. If we have a pullback from these levels, bears will probably try to deliver a downward correction.

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