EUR/USD Drop Below 1.1200 is Possible

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The EUR/USD has started a retracement from the overbought area. We might see a complete reversal if the price breaks below W L3 camarilla.

The EUR/USD inability to proceed above the 1.1330 has initiated a drop from the POC zone above. 1.1265-75. The overbought condition has been confirmed. The trade was initiated at the red candle close. Targets are 1.1213 and 1.1135. Below 1.1097 is possible too. Final weekly target is 1.1025 but we need to have additional bearish momentum.

The analysis has been done with the CAMMACD system.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of