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EURUSD Extended V bottom on daily time frame

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD has made the Extended V Bottom on daily chart. The characteristic of this pattern is that the price of the V bottom will form a reversal that is followed by a down-sloping trend line or channel usually in the form of a triangle or pennant. Extended V bottom on the EURUSD chart has been very distinctively followed by a bullish pennant that broke to the upside making its target at 1.1376. My previous EURUSD analysis showed that 1.1085 was indeed a very strong support and the price has

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