EUR/USD Bounce at the Confluence Zone

EUR/USD Technical Analysis

• EUR/USD Possible retracement at D L4
• Confluence spotted
• 88.6 zone
• Possible drop then bounce

H1 Chart GOLD

1. Point 1
2. Point 2
3. Projected point 3
4. Target

The EUR/USD is retracing. Market reacts heavily to any news regarding US-Russia crisis. There is no trending at the EUR/USD only range bound market. At this point projected point 3 is a possible bounce spot for the market. 1.1140-50 might bounce and target 1.1215. Watch for any news driven momentum and a possible buy trade.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad