We saw price stall around the 1.15600 level which then formed a double bottom and a breakout, which indicated a medium term trend shift. Considering price has been bearish making lower lows and lower highs for 40 days, price finally found support at the level indicated forming a neckline for a possible H&S formation on daily time frame.
For reference check DXY also, which is forming an inverse head and shoulders.
For reference check DXY also, which is forming an inverse head and shoulders.