EURUSD has tapped the support level and is at the double bottom formation from where there is a potential to continue moving up. The trend is bearish on the pair and with the formation of lower lows and lower highs, there is a chance we might witness a pullback. I anticipate the pullback towards the resistance level.

The descending trendline is our profit target for the position.

The EMA 50 will act as a profit target for our bullish position. 

RSI at 31. The bullish divergence is going to formed at the over sold region. It needs to be aligned with the technical parameters.

Double bottom at support?

Oct 02 2023