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17 Jun 2013
Flash: Double bottom pattern in EUR/USD? - BBH
FXstreet.com (Barcelona) - The lows from March and May in the $1.2750-$1.2800 area may be a double bottom pattern in the EUR/USD, says Marc Chandler, Global Head of Currency Strategy at BBH.
Chandler notes the neckline near $1.3200, "with the minimum objective of the pattern at $1.3650-$1.3700, near the year's highs" Chandler said. A move back down through 1.3200 would negate the double bottom, Chandler concludes.
Chandler notes the neckline near $1.3200, "with the minimum objective of the pattern at $1.3650-$1.3700, near the year's highs" Chandler said. A move back down through 1.3200 would negate the double bottom, Chandler concludes.