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EUR/USD Bounce at the Confluence Zone

By
Nenad Kerkez
Published: Mar 1, 2022, 10:25 GMT+00:00

There is no trending at the EUR/USD only range bound market.

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

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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