EURUSD Long Term View part 3, Double Bottom

Updated

EURUSD' has been having some struggles the last few months, with getting above the 1.15. each attempt got rejected with a push to the lows again. The past few weeks, we can still see there is no strength from the bulls, but also no real strength from the bears. This, fits right into the picture of a double bottom, So ideally, we see a drop towards the 1.125ish (like the red line) within 1 or 2 weeks. Depending on how it moves, that might be a great spot to get in long term.

Previous analysis:

Note

Draghi said today that intrest rates would not be increase until 2020, so the euro took a hit. This is because, lower intrest rates makes investing here less interesting for foreign money, so lower demand (basic economy, but of course more to it).

Anyway, this could change things, but i don't think so. We have a good drop now, we could even drop below 1.12, just going to keep a close eye on this one, to see if there will be some support at some point. So the big wedge and that double bottom can still play out.

botje11

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