EUR/USD 88.6 Zone Shows Resistance

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The EUR/USD has completed a retracement to 88.6 fib. We could see a move down straight from the 1.1850-65 zone.

The market is trying to break the zone to the upside after a V shaped reversal pattern. However there is the battle raging between bears and bulls and EUR/USD is within the bearish zone now. The POC zone could start a move down towards 1.1827, 1.1815 and 1.1795. Only if the market makes a move above 1.1900 we could see the invalidation of this bearish scenario.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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