EUR/USD Technical Analysis

• Downtrend trend line
• The retracement is at 50.0 Fib
• M H3 camarilla pivot point
• Bears should keep the price below 1.1620

1. The swing high
2. Swing High
3. Strong bearish marubozu candle
4. 50.0 Fib retracement
5. Target

The price is still bearish. Bears need to keep the price below 1.1620 as the trend is still bearish and there is room till the next support level. If the markets reject from the 50.0 fib, it will be seen on the daily TF as a rejection candle with no big wick to the upside. Daily TF will give us the next direction but the market is still undecided. After the NFP Monday, we can still see that markets are making a pullback but the general idea for the EUR/USD is bearish. The 1.1595 zone is important for bears and the targets are 1.1510 followed by 1.1463.

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Cheers and safe trading,

Nenad