It is reasonable to say that this up move for the Euro, for the moment is just a correction for the big down trend (on a daily chart).
My scenarios would be the following:
1. The price will stop before 1.1300 and draw a Double Top (look at the 60 min chart). This scenario would also be sustained by the Daily chart with the Bat pattern emerging from the latest price action.
2. The second scenario is that the Double Bottom formed on the daily chart would actually send the price towards 1.1650, but for this I believe that Euro needs some reinforcements.
My favorite is the first one, what do you think will happen?
My scenarios would be the following:
1. The price will stop before 1.1300 and draw a Double Top (look at the 60 min chart). This scenario would also be sustained by the Daily chart with the Bat pattern emerging from the latest price action.
2. The second scenario is that the Double Bottom formed on the daily chart would actually send the price towards 1.1650, but for this I believe that Euro needs some reinforcements.
My favorite is the first one, what do you think will happen?
