? EUR/USD Bullish SHS with W pattern ?️

2 min read
tarantula fx

tarantula fx

Head of Trading

The EUR/USD has been a bit bullish, breaking out above weekly L3 camarilla pivot, reaching the W H3. Today is a profit taking day, so we could see a retracement before a further bounce. 

1.2468-80 is the first POC zone and the price could make a short-term bounce. However, if we don’t see a break of 1.2520, the price might further drop to 1.2430-45 testing POC2 zone before further up. As with every Friday, the profit taking might just reverse the price, so it could drop further but bullishness should be intact as long as the price holds above the X-cross of a trend line and 78.6 Fib at 1.2435.

EUR/USD H1

 

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