EURUSD Long Term View part 4, Double Bottom

12 Mar 2019

The double bottom is still playing out, dropped a bit more than expected upfront, but it made a good bounce up so far. So coming week might be important for the mid-term. Small rejection so far from what seems to be a resistance zone. Ideally we see it drop towards the 1.122, making a higher low there and then seeing a big strong counter move straight through that resistance around 1.128. That would make it a false breakout once again, just like the ones i caught a few months ago. Those other times, we saw mostly SHORT on the EurUsd page here on TV', seeing the same thing again, so would be fun to see what will happen again :)
Below the 1.122ish, would probably invalidate the countermove idea.


Previous analysis:

Previous counter move trade: