FX.co ★ EUR/USD Intraday Technical Analysis September 20, 2011

The weekly support is still showing bullish reaction towards any decline in EUR/USD prices.

Yesterday We had a bullish hammer candlestick indicating successful testing of the 61.8% level acting as support.

The pair is expected to be forming a double bottom on the daily chart initially targetting 1.3970 ( the neckline ).

SL for this scenario should be daily closure below 1.3570.