EUR/USD Continues With Downtrend

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The EUR/USD has gained some bullish impulse after yesterday’s worse than expected ADP data. However, the pair is still bearish.

Daily TF shows overbought market conditions and if the M H3 camarilla is not broken, downtrend continues. M H3 is 1.1321 and this level is crucial for bulls. Above this level we will see continuation to the upside. However, yesterday 1.1180 was retested as the price printed out the new daily low, so we might have another retest of 1.1180. However, for that to happen we should see a move below 1.1240 first which will signal a new bearish impulse. 

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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