Forming a Double Bottom; A Breakout Could Indicate Correction

3 במאי 2022

EURUSD has been moving in an extraordinary bearish. Currently, all long-duration indicators are residing in the oversold area. In 4-hour chart, we can see the price forming a double bottom, with a strong bullish candle sending the price near the neckline area. If the price breaks above the neckline area and begins to make higher highs, then EURUSD could begin its correction stage.