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EUR/USD Bulls are Waiting for Retracement

By:
Nenad Kerkez
Published: Dec 11, 2020, 09:08 UTC

The EUR/USD is bullish. The price is in retracement, so if the market drops to the POC zone we will possibly see a bounce.

EUR/USD

In this article:

The EUR/USD is bullish. The price is in retracement, so if the market drops to the POC zone we will possibly see a bounce.

1.2070-80 is the zone where bouce is expected. We can also see historical buyers at the same zone. It’s Friday so profit taking should take place later in the day. Targets for the move if the proce bounces from the POC zone are 1.2118, 1.2164 and 1.2188. Bears will have the chance only if the price drops below 1.2050.

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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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