EUR/USD Formed a Double Bottom

The EUR/USD bearish trend lasted for well over two months but it may have finally ended as the pair has formed multiple signals on the longer time-frames indicating a likely reversal. Namely, the pair has formed a clear double bottom on the daily time-frame at 1.1510, as well as a pair of hammer candlesticks on the weekly time-frame above the same support level. Considering these signals there will likely be a new move to the upside at least towards the last high at 1.1850. If the pair breaks out above that level it will probably continue rising towards the next likely resistance, which coincides with the (MA)89 indicator on the daily time-frame and is at 1.1925.