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