finding A M S
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EUR/USD’s Double Bottom and Inverted Head and Shoulder Scenario
Double Bottom - The EUR/USD fell to 1.4150 cracking it but for the most part respected the area. The RSI in the 1H chart also mainly remained above 40, showing a chance to maintain the bullish momentum that started Friday. - Also note a possible double bottom forming. Although the bottoms are not similar nor equal, they represent rejection from going below 1.4150. - If the current rally breaks above 1.4250, we have a double bottom formation. - This double bottom however is vulnerable of being faded until we break above the 1.4280-1.43 resistance zone. Head and Shoulder - The double bottom would only be a precursor to ... (full story)
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