Gold Sellers are Waiting in the Ambush

The EUR/USD has formed a rounded bottom pattern on H1 timeframe and it has come exactly to the resistance zone.

We should see either a break to the upside or a move down. A breakout to the upside will target 1.1700, 1.1730 and 1.1771. This will be a sign of a deeper retracement up where we might see another wave of selling maybe this week depending on the US data later in the week. A drop below 1.1665 would instill another bearish momentum towards 1.1600. For the EUR/USD it’s – make it or break it.


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.