USD retracing against EUD

I have typed about USD vs EUR earlier and that it will head for EUR 1.06 due to a multi-year double bottom. I took a further look and would need to revise the prediction.

No, I am not changing my mind, we are still seeing a much weaker Euro. The only thing different is the pattern.

Fig 1 USD EUR Weekly Chart

We can still consider a double bottom reversal, but it might be better to consider a ascending triangle reversal. This would be more appropriate. The measurement is definitely much lower compare to a double bottom, and minimum objective is lower at EUR 1.04. However, this is STILL a minimum objective and may still head for EUR1.05.

But what we have in the short run, we would be seeing a retracement of USD, I assume it aims to go back to the trend line of EUR 0.845 before heading forward. At present the indicators are moving downward, so this notion is supported.