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    EUR/USD: bears are getting some rest because of the "Double Bottom"

    EUR/USD: bears are getting some rest because of the "Double Bottom"

    The price has faced a support at 1.1242, which led to the local upward movement under the 89 Moving Average. So, the market is likely going to get a resistance at 1.1282 – 1.1326 during the day. If we see a pullback from this area, bears will probably try to move on, so we should keep track of the next support at 1.1179.

    EUR/USD: bears are getting some rest because of the "Double Bottom"

    As we can see on the one-hour chart, there’s a “Double Bottom”, which stopped the bearish rally. So, a bullish correction towards a resistance at 1.1297 becomes possible. If bears push off from this levels, a new low is likely going to be delivered very soon.


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