EUR/USD 88.6 zone shows resistance

Nenad Kerkez Top-XE

The EUR/USD has completed a retracement to 88.6 fib. We could see a move down straight from the 1.1850-65 zone.

The market is trying to break the zone to the upside after a V shaped reversal pattern. However there is the battle raging between bears and bulls and EUR/USD is within the bearish zone now. The POC zone could start a move down towards 1.1827, 1.1815 and 1.1795. Only if the market makes a move above 1.1900 we could see the invalidation of this bearish scenario.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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