EUR/USD Dark Cloud Pattern for a Possible Counter Trend Trade

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The EUR/USD spiked after the ECB conference where Mr. Draghi delivered a bit hawkish outlook compared to his previous speeches.

EUR/USD market is still a bit bullish but we can see a Dark Cloud pattern hanging just at the D H3 resistance which is a way above the W H5 – weekly resistance. If 1.1730 holds we might see the rejections from the POC zone that sits around 1.1700. Target is 1.1665 and the overshot extension might target confluence at 1.1639. Today is Friday so the price might drop as a result of profit taking.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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