This pattern qualifies as a double bottom because the preceding trend has a negative slope and the breakout occurred with the demonstrated higher high. Because the two bottoms vary in range from 30 to 50 pips, the projected target for a long position is unusually wide. The lower projection of 30 has the higher probability and the higher projection of 50 has the lower probability of confirming. The expected time to hit target is approximately 24 hours. Weekend event risk and volatility are additional risk factors for this pair
EURUSD
EURUSD