EUR/USD 1.1300 Possible if 1.1190 Holds

2 min read
Davin Wu

Davin Wu

Market Analyst and Educator

Dear Traders,

The EUR/USD has been in an uptrend since the start of the month. After a minor retracement, now price finds itself in an area of confluence. We might see a bullish bounce.

Our POC zone is 1.1215-25 [Historical Order Block, W L4, -1/8]. Retracement might end at this key support level for bulls to take over. Our targets are 1.1244 [D H3, 2/8], and 1.1268 [D H4, W H5, 5/8]. If price closes aggressively above that level, we might see momentum for price to move until 1.1307 [D H5, +2/8]. The Diamond on the chart denotes a T-89 pattern rejection from the EMA89, a justification for us to pull the trigger.

This analysis only holds if 1.1197 holds [W H3, D L3, ATR L1]

The analysis has been done with the
CAMMACD.MTF template.
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Many green pips,
Davin Wu aka AmbitionFX

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