EUR/USD

EUR/USD Consolidation Breakout Pattern Targets 1.2093 and More

The EUR/USD has formed a strong support and I expect the price to proceed further up.

Consolidation-Breakout pattern has been formed at the bottom and we expect the price to push further up towards the W H5 zone. If we see the close above 1.2095 then 1.2136 is next. Bulls want to protect 1.1950 as the strong support zone where currently buyers are dominating. If the support fails we will see a huge drop to the downside.

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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.