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EUR/USD Bears Showing Up at The 88.6 Resistance

By:
Nenad Kerkez
Published: Feb 7, 2022, 11:33 GMT+00:00

The price is facing the resistance at point 3 in the chart. Point 3 is the confluence zone and profit taking area. 88.6 fibonacci confluence with the M H4 camarilla is the zone.

EUR/USD Bears Showing Up at The 88.6 Resistance

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EUR/USD Technical Analysis

  • EUR/USD made it to 88.6 fib
  • Bears might take over
  • The first target is W L3 pivot
  • 1.1470 should hold

H4 CHART EUR/USD

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  1. Swing high
  2. Swing low
  3. 88.6 zone
  4. First target

The price is facing the resistance at point 3 in the chart. Point 3 is the confluence zone and profit taking area. 88.6 fibonacci confluence with the M H4 camarilla is the zone. If the bears gain enough momentum we should see the price moving down towards 78.6 1.1404 and below towards W L3 1.1355. The first target is the 1.1350 zone. The final target is W L4 1.1260 camarilla pivot.

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Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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