EUR/USD new lows are possible although the pair is at support

Nenad Kerkez Top-XE

The EUR/USD went completely as I predicted, hitting sub 1.0600 levels. Today’s profit taking may spike the price to the upside but I expect at least one more retest of lows (1.0580) before next direction is decided. POC zone 1.0650-65 ( descending trend line, DPP, H3, 50.0) might reject the price for a further retest of 1.0580 lows. If 1.0580 is broken then 1.0550 is next. However for 1.0500 bears really need a strong momentum push with some covering to take place. Friday is a profit taking day so pay attention to additional volatility.

Author

Nenad Kerkez

Top-XE

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