EUR/USD is Still Bearish Due to Technical Confluence

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi trader,

The EUR/USD has retraced back to 1.1690-1.1700. We can see a cluster of resistance there and the trend is still bearish.

In the EUR/USD chart we can easily see trend lines and dynamic BB resistance cluster at W H1 camarilla level. If the price rejects from the POC zone we could see 1.1670 and 1.1630. A spike to the upside might bring the price to the POC2 zone 1.1730-40 where we might see another rejection down having 1.1700 as the first target. Only a close above 1.1765 could make EUR/USD bullish again.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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