EUR/USD rooftop pattern shows either a breakout or a drop from POC

Nenad Kerkez Top-XE

The EURUSD has formed a rooftop pattern and we could see a move to the downside. At this point we should be focused on selling the rallies.

The POC zone comes between 1.2060-1.2080. The rooftop pattern base is 1.1990. If the market makes a close below 1.1990 we could expect a downside continuational move towards 1.1953 and 1.1893. The market is bearish now and in my opinion it is either a breakout or a rejection from the POC zone.

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

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Author

Nenad Kerkez

Top-XE

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