EUR/USD Might see a Pullback to a Strong Resistance Zone

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The EUR/USD is having a strong downtrend. We could see a move above 1.1675 as a part of retracement.

1.1675 is the strongest weekly pivot point. We could see a move up towards 78.6-88.6 zone 1.1700-10. As the W H5 has already been broken, I expect a further move down. Targets are 1.1675, 1.1650 , 1.1633 and 1606. The way to 1.1600 should be open after the retracement has been completed and price moves below 1.1650. Further bullish retracement is only possible above 1.1730 which is the D H5 resistance for intraday traders.

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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