EUR/USD found a double bottom

EUR/USD found a double bottom

2019-11-11 • Updated

Recommendation: BUY 1.1645 SL 1.159 TP1 1.1705 TP2 1.174 TP3 1.179

On the daily chart of EUR/USD, bulls are trying to form a double bottom with the help of a bar with the long lower shadow. Bears are still hoping to trigger AB=CD pattern with targets 127.2%, 161.8%, and 200%.

  EURUSD1.png

On H1 of EUR/USD, the “Shark” pattern is transforming into 5-0. Within it, the odds of a pullback towards 23.6%, 38.2% and 50% increased. If bulls managed to conquer resistance at 1.1645, the pair will trigger a “Broadening wedge”.

EURUSD2.png

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