Pashabxl

EURUSD: Double Bottom or Falling Wedge

FX:EURUSD   Euro Fx/U.S. Dollar
The pattern is not very clear although we can think about the formation of a very sharp Falling Wedge because of the volatility of the market last week based on ECB announcement and NFP, or we have to wait for another candle to see if we are on the eve of the double bottom .
Indicators such as Stoch suggest that we are at an oversold level, ie, we may face a correction on the upside, but we do not know yet if it is a limited correction, or if it is a clear change of pattern.
If that is a double bottom , then Neckline is at 1.3660 and above the level may very much be 1.37XXX around 1.372
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