• As discussed in my previous posts, target was met just at the long term ascending trend line • Bulls have a double bottom pattern now and are more convinced • Which made the pair gain almost 100 pips in a single day • Bears are still hopeful that this is just a corrective move and are waiting for better prices to short again • Bulls are now targeting 1.09, 1.0940 and 1.10 • It is important to note that this move could be related to bears willing to stay put only because the ECB event is around the corner • FED-ECB policy divergence to be watched to determine future direction