EUR/USD stuck in a range with possible move down if below 1.0850

Nenad Kerkez Top-XE

The EUR/USD is bearish on 3 consecutive timeframes on my CAMMACD.SIT template. The price is below the channel on H4, H1 and M15.

We can see that the price is moving sideways. However, we can see that the EUR/USD is also trying to break below 1-2-3 pattern on M15 timeframe. A consecutive break below 1.0850 should target 1.0820 and 1.0795. If this happens, we might be on the way towards 1.0700 level retest. If the EUR/USD fails to close below 1.0850 on then, we should see a further range play.

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

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Author

Nenad Kerkez

Top-XE

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