EURAUD H4 DOUBLE BOTTOM Pattern Reverse

TECHNICAL ANALYSIS:
-The support at 1.61624, a strong weekly level, rejected the price several time, moving the market a in side trend until the end of November;

- The price then started a quick and strong uptrend, getting weak once it reached the resistance area. It rejected the market, moving it in a DESCENDING Channel, until it collapsed and broke our previous Support.

-The market is actually creating a possible DOUBLE BOTTOM Pattern, it could be strong enough to definitely reverse the trend.

CONCLUSION:
I aspect the price going LONG also in a Daily Time Frame, I'm not getting any Long Position because we still don't have any confirmation from the pattern, though the price is Oversold and bounced on a very strong and important support.

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Trade safe!
Gianni