EURUSD – Double Bottom Pattern | Bullish Reversal Setup Forming

6 days ago

EURUSD is developing a double bottom pattern near the 1.1620–1.1640 support zone after a strong retracement, suggesting potential bullish reversal momentum is building.
Price has reacted from the bottom support area twice, forming a key rejection structure that signals buyers are stepping in.

Currently, EURUSD is pulling back toward the neckline zone around 1.1650, aligning with the retracement and 200 EMA support. A clean bullish candle close above the neckline will confirm the reversal continuation toward higher resistance levels.

Market structure is shifting with multiple CHoCH and BOS signals confirming short-term accumulation. Volume analysis also supports growing demand pressure in this region.

💡 Once price breaks and holds above 1.1701, we could see continuation toward 1.1756 and 1.1814, completing the double bottom projection.

🎯 Technical Targets:
• First Target: 1.17015
• Second Target: 1.17566
• Third Target: 1.18146

📉 Invalidation:
A strong bearish break below 1.1620 support would invalidate this bullish setup.

🚨 This analysis is for educational purposes only. Always manage risk and confirm with your own trading plan.

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2 days ago

Order cancelled

no use this trade setup