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Technical analysis for EUR/USD, the pair formed a double bottom on both the weekly and the daily charts, which is a signal for a pullback. The first target for this pullback is the 0.382 FIB retracement on the weekly chart at 1.0670, where we have the daily 50 EMA. The second target is the previous high on the weekly chart at 1.0736. The third target is the 0.618 FIB retracement on the weekly chart at 1.0865. The fourth target for the pullback in the EUR/USD is the resistance zone around 1.1050.
On the other hand, if the EUR/USD breaks below the double bottom and the support at 1.0349, it will open the door for a bearish run toward the 2.168 FIB extension on the weekly chart at 1.0115. The second target of such a bearish development for the EUR/USD is the 1.000.
Daily chart:
Weekly chart:
