eurusd

EUR/USD Close Above W H4 Will Target 1.1445 and 1.1478

Hi traders,

The EUR/USD has formed a V Shaped Reversal at the bottom but the price is still range bound. A strong H4/ D1 close above 1.1400 is needed for new bullish bounce.

The EUR should be more resilient than other G10 currencies amidst the threat of US-China trade war. I’ve repeated many times that I was buying the dips and I think it’s the way to go.

The POC zone has formed within 1.1390-1.1400 but any bounce above 1.1352 is considered bullish. The price is getting close to overshot levels as it is breaking a retracement trend line. If the price proceeds further up 1.1444 is next level followed by 1.1475 zone in the case of continuation. Only a drop below 1.1335 will be considered neutral to bearish.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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.