A nice double bottom pattern coupled with a pennant pattern that has been broken to the upside confirms an earlier long term forecast I had made about the EURUSD, that there is no way but up for the currency pair. I have put a conservative target at 1.2300 however I think it is easy to see that this currency pair will continue much further than that to reach even 1.2900. After reaching the zone around 1.2300 the EURUSD could retrace to the neckline of the double bottom pattern (1.1800) indicated by the green line before going for 1.2900.
