EUR/USD Retracement Suggests Further Downside

The EUR/USD has rejected from 1.1400 zone three times and we could see a continuation of the bearish movement if the price rejects from the POC.

The POC zone 1.1300-10 is the potential rejection point. The market briefly tested 1.1275 during Asia session so we should see a continuation below. Targets are 1.1250 and 1.1213. Only a close below 1.1210 should suggest further downside to 1.1135. A close above 1.1370 might instill a bullish move and bears will probably lose the upper hand.

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.