EUR/USD Retracement Suggests Further Downside

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The EUR/USD has rejected from the 1.1400 zone three times and we could see a continuation of the bearish movement if the price rejects from the POC.

The POC zone 1.1300-10 is the potential rejection point. The market briefly tested 1.1275 during Asia session so we should see a continuation below. Targets are 1.1250 and 1.1213. Only a close below 1.1210 should suggest further downside to 1.1135. A close above 1.1370 might instill a bullish move and bears will probably lose the upper hand.

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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