EUR/USD is pulling back from a breakout above small wedge bottom. It is also reversing up from a big double bottom. The reversal is strong enough so that bulls will buy the current 1 - 3 day pullback. Therefore a 2nd leg up is likely.

All trading ranges have reasonable buy and sell setup. In addition, they are always in an early bear trend and in a bull trend. You can see this after there is a successful breakout. For example, if the bears get successful bear breakout, traders will say that the bear trend began with September 8 high, Which is now within the trading range.

The 3 months trading range on the EUR/USD daily Forex chart has a double bottom with August 17 low. In addition, If the current rally reverses down and there is a breakout below the range, the pattern would be a head and shoulders top..
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