EUR/USD is Long as the Price is Retracing

2 min read
tarantula fx

tarantula fx

Head of Trading

EUR/USD Technical Analysis

  • The break above W H3 is possible
  • W H4 is the target
  • W H3 is interim resistance

4H Chart EUR/USD

  1. Swing low
  2. Swing high
  3. Retracement
  4. Target

The EUR/USD is in retracement mode. Risk-on is dominating the markets now as the Russia-Ukraine situation is not getting worse and negotiations are in progress. At this point I expect a breakout as you can see from my position. If the W H3 breaks we should see the ATR high hit – 1.1050.  Buy the dips scenario is holding bears from advancing further. The final target is W H4 1.1090 for the intra-week setup.

Good trading,
Nenad Kerkez

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