EUR/USD Watch for Support at W L3 and ATR

Dear Traders,

The EUR/USD has been dropping aiming for 1.0844. The price is currently bearish but pay attention to support zone.

W L3/ATR pivot projection low comes exactly at W L3 and ATR support. At this point we could see the market going down from 1.0870 and reaching the zone. In that case the price might bounce. If the price closes below W L3, we should see a continuation to the lower pivot, W L4. In that case 1.0787 should be the target. A bounce from the zone aims for 1.0958.

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.