EUR/USD Possible Bounce From the POC zone

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The EUR/USD bounced towards 1.1670 zone on Friday, before the early profit taking. The new POC zone is close to 1.1610 and we might see a bounce again.

The EUR/USD is trying to bounce from the support and there is a chance it will bounce off 1.1640. However a drop to 1.1590-1.1610 is also possible and in that case we might see a strong bounce towards 1.1650 and 1.1670. Above 1.1670, the targets are 1.1720 and 1.1747. Only a drop below 1.1580 could negate bullish scenario. Watch for a confluence bounce and possible uptrend continuation.

Many green pips,
Nenad Kerkez aka Tarantula FX

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