EUR/USD Possible Continuation Below W L4

2 min read
tarantula fx

tarantula fx

Head of Trading

The EUR/USD followed the trend and at this point it is very close to W L4 Pivot Point. The first target is 1.1634 but we might also see a break below

If the h4 or daily close is below the W L4 then we could see a continuation towards 1.1550 and 1.1523. Traders should carefully watch a potential rejection/bounce from the 1.1650 zone. If the pair drops below it, we might see a continuation. 1.1700 is also a selling level so any spike to the upside is regarded as a healthy retracement in downtrend.

Good trading,
Nenad Kerkez aka Tarantula FX

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