EURUSD confluence zones come close to 1.1175 and 1.1250 levels

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

2015-06-08_9-31-32

EURUSD dropped on Friday after good NFP and touched 1.1048 – strong static support. Today is NFP Monday and EURUSD is currently in retracement mode, while still in downtrend and 1.1165-1.1180 zone (H3, 61.8, previous swing) could reject the price towards 1.1100 and 1.1050, but in the case of a deeper retracement which could also be possible – 1.1240-50 zone ( H4, double trend line, 88.6) should also reject the price to the lower zones. For a further continuation down to 1.0960 a static 1.1050 support needs to break again and ideally a 4H close below the level would tank the pair down.

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read the original article on AdmiralMarkets.com