EUR/USD: Double Bottom?
Candlestick Analysis: Looks like a possible double bottom is forming. Holding to see if the current 1 Hour candle will close above the previous one. If so, I would place a buy limit order at 1.26. Yeah you'd miss out on 15+ pips, but it's wise to wait for stronger confirmation. Price has been bouncing around this range all night. Wouldn't want to get caught in another failed breakout reversal. TP should be set at 1.36 (1.40 for more risk/reward). A close above the 200 EMA will also further solidify short term bullish.
- No risk, no reward.
- No risk, no reward.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.