EUR/USD: A Double Bottom?

Ever since the results of the referendum in the UK came out back in June EUR/USD has been forming a very frustrating to trade sideways consolidation between 1.1200 and 1.0980. The choppy market made this pair difficult to trade, but I think there is finally a clearer signal that has formed on the daily time-frame, namely a spinning top candlestick above the support at 1.0980, as well as a double bottom above the same level. Taking this into consideration I would say that we can likely expect a move to the upside soon. Of course, one should also keep in mind that later today will be held the ECB press-conference and that it will likely provoke some further volatility on the market.