EUR/USD Bulls are Waiting for Retracement

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The EUR/USD is bullish. The price is in retracement, so if the market drops to the POC zone we will possibly see a bounce.

1.2070-80 is the zone where bounce is expected. We can also see historical buyers at the same zone. It’s Friday so profit taking should take place later in the day. Targets for the move if the price bounces from the POC zone are 1.2118, 1.2164 and 1.2188. Bears will have the chance only if the price drops below 1.2050.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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