How do you read a clear double bottom LIKE THAT?
The European currency has seen a long downtrend lately against the U.S. Dollar. Despite what happened in the last months in the US regarding the "trade wars" the dollar resisted the pressure.
But now, something is changing. After the last ECB meeting, the EUR rallied. As we can see the downtrend line has been broken after a double bottom.
The last extra confirmation would be the level 50% Fibs since a breakout of this level can possibly be a reversal rather than a correction.
GOOD LUCK!
The European currency has seen a long downtrend lately against the U.S. Dollar. Despite what happened in the last months in the US regarding the "trade wars" the dollar resisted the pressure.
But now, something is changing. After the last ECB meeting, the EUR rallied. As we can see the downtrend line has been broken after a double bottom.
The last extra confirmation would be the level 50% Fibs since a breakout of this level can possibly be a reversal rather than a correction.
GOOD LUCK!