EUR/USD Rooftop Pattern Shows Either a Breakout or a Drop from POC

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The EURUSD has formed a rooftop pattern and we could see a move to the downside. At this point we should be focused on selling the rallies.

The POC zone comes between 1.2060-1.2080. The rooftop pattern base is 1.1990. If the market makes a close below 1.1990 we could expect a downside continuational move towards 1.1953 and 1.1893. The market is bearish now and in my opinion it is either a breakout or a rejection from the POC zone.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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