EUR/USD

EUR/USD Huge Rally Could Come to a Stop

The EUR/USD has rallied towards 1.1390 zone after yesterday’s ECB. The EUR/USD has rallied for a ninth consecutive day.

The euro was the big mover on the day as the price rallied above 1.1300 reaching 1.1360. We are in the zone of deep retracement – 78.6 % and 88.6% fib of March Swing low. We should see bears selling the price or cashing out of long positions. 1.1360-95 zone should provide relief and the price should go down. Targets are 1.1240 and eventually 1.1167 during next week. Today its also NFP which could provide boost to USD on better than expected results.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.