Forex

EUR/USD Countertrend Move Possible at 1.1430

October 23, 2018

2 min read

tarantula fx

Head of Trading

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EUR/USD Countertrend Move Possible at 1.1430

Hi traders,

The EUR/USD has formed a regular bullish divergence straight at D L3 and H4 Lower Band. We might see a countertrend move if the zone holds tight.

A regular bullish divergence could prove successful if the price rejects from the POC zone 1.1440-50 and holds above D H1 at 1.1472. In that case, the bounce should target 1.1490 zone with a potential towards 1.1515-1.1530. This can happen only if the intraday bullish momentum is strong and steady. A loss of 1.1430 could tank the price down to 1.1410-1.1400 zone.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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