LDOUSD appears to have completed a double bottom pattern on the weekly timeframe, suggesting a potential bullish breakout.The pattern’s bottom is at approximately $0.6182, and the neckline is around $1.1090.
Using standard technical analysis:
Traditional target = $1.1090 + ($1.1090 − $0.6182) ≈ $1.60
Using a momentum-based projection:
Percent gain from bottom to neckline ≈ 79.39%
Momentum target = $1.1090 × 1.7939 ≈ $1.99
This creates a two-tiered target range of $1.60 to $1.99, depending on breakout strength and broader market sentiment.
this is not financial advice - merely my observations and speculations. I could be wrong, but this is simply how I view the chart in front of us. Any critiques to this TA are encouraged.
