Forex

EUR/USD Should Reject If 1.1535 is Reached

November 7, 2018

2 min read

tarantula fx

Head of Trading

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

EUR/USD Should Reject If 1.1535 is Reached

Hi traders,

The EUR/USD has bounced after breaking out from bullish SHS pattern. At this point its at 0/8 Murrey Math strong resistance which is in confluence with M H4 camarilla pivot.

If the price closes above 1.1474 we should see a continuation towards 1.1505 and 1.1535 zone. W H5 and +2/8 should provide enough resistance for the pair and I think fresh selling or profit taking could happen within 1.1535-50. If that happened we should see a retest of 1.1505 and eventually 1.1474. However, If 1.1474 holds we might see a rejection further towards 1.1430 zone.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

bounce break breakout Camarilla chart pattern EUR/USD eurusd forex forex setups forex trade forex trade setups fx fx setups FX trade fx trade setups nenad kerkez price action patterns price patterns support and resistance tarantula technical analysis trade setups trades trading trend lines