EUR/USD Analysis

Exclusive EUR/USD Analysis Oct 18 2016

The EUR/USD has been sold on rallies as I suggested on my previous article. It was very clear that bears are having the upper hand now and this should continue in this week. Daily chart is showing signs of further weakness as we can spot strong momentum candle (marubozu). For positional trades we always want to have a better price to sell/buy so for next shorts we have 2 possible POC zones. POC1 comes within 1.1030-45 zone (H3 weekly camarilla, WPP, bearish order block). Should retracement go deeper we need to pay attention to POC 2 1.1095-1.1110 (H4, bearish order block, EMA89). Rejection off POC zones will target 1.0950 and 1.0905. If we see no retracement, then we will need to pay attention to 4h candle close below 1.0950 that might tank the pair to 1.0905. 4h or daily close below 1.0905 targets 1.0840.

EUR/USD Chart
EUR/USD Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

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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.