EUR/USD Selling Should Continue

TOP XE analysis

EUR/USD Key Levels and Strategy

  • Selling the rallies
  • Shooting star in the zone
  • The target could be 1.0350 zone again
  • 1.0430 is the intraday target

MEGATREND MAs: Bearish

EUR/USD Technical Analysis

EUR/USD Daily chart
  1. Trend Line
  2. Temporary Low
  3. Pinbar in the Zone
  4. Target zone

Technically the EUR/USD is still bearish. We should see the price moving down as the trend and daily signal show potential down move. However, the momentum of EUR/USD is crucial now. If the price manages to stay below 1.0500, we should see a move down. However, there are still buyers around the M L4. The expectation is still to the downside with the EUR/USD 1.0430 as intraday target. Swing target is 1.0350 zone for the EURUSD.

This analysis is a part of the Megatrend trading course. I have sold the rally in the zone and will keep the trade unless all the way until the intraday target has been reached and scaling out happens (close of 1 position).

Cheers and safe trading,

Nenad

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.