EUR/USD is Bullish But Watch for M H5 Resistance

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The EUR/USD has formed a bullish move as expected and the pair is going straight for the M H5 Camarilla resistance. 1.1215 could reject the price.

1.1214 could reject the price as M H5 is the strongest monthly resistance. A drop towards 1.1130-1.1150 could initiate a new wave of buyers for another attempt at 1.1173 and 1.1214.  However, the ATR(5) is rising, and it means that the volatility is higher. If the price proceeds above 1.1214 that would mean that the stronger upmove is expected next week.

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

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