EUR/USD Bears Showing Up at the 88.6 Resistance

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The EUR/USD is hanging around the 88.6 Fibonacci. We should see the move down.

The price is facing the resistance at point 3 in the chart. Point 3 is the confluence zone and profit taking area. 88.6 Fibonacci confluence with the M H4 camarilla is the zone. If the bears gain enough momentum we should see the price moving down towards 78.6 1.1404 and below towards W L3 1.1355. The first target is the 1.1350 zone. The final target is W L4 1.1260 camarilla pivot.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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