Forex

? EUR/USD Bullish SHS with W pattern ?️

February 2, 2018

2 min read

tarantula fx

Head of Trading

Market research & company updates. No spam, we promise.

The EUR/USD has been a bit bullish, breaking out above weekly L3 camarilla pivot, reaching the W H3. Today is a profit taking day, so we could see a retracement before a further bounce.

1.2468-80 is the first POC zone and the price could make a short-term bounce. However, if we don’t see a break of 1.2520, the price might further drop to 1.2430-45 testing POC2 zone before further up. As with every Friday, the profit taking might just reverse the price, so it could drop further but bullishness should be intact as long as the price holds above the X-cross of a trend line and 78.6 Fib at 1.2435.

? bounce break breakout cammacd chart pattern EUR/USD eurusd Fibonacci fibs forex forex fibonacci forex setups forex trade forex trade setups fx fx setups FX trade fx trade setups MACD nenad kerkez price action patterns price patterns S&R setup support and resistance tarantula technical analysis trade setups trades trading trend lines triangle wave analysis zigzag