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EUR/USD Should Reject If 1.1535 is Reached

Nenad Kerkez
EUR/USD Should Reject If 1.1535 is Reached

Hi traders,

The EUR/USD has bounced after breaking out from bullish SHS pattern. At this point its at 0/8 Murrey Math strong resistance which is in confluence with M H4 camarilla pivot.

If the price closes above 1.1474 we should see a continuation towards 1.1505 and 1.1535 zone. W H5 and +2/8 should provide enough resistance for the pair and I think fresh selling or profit taking could happen within 1.1535-50. If that happens we should see a retest of 1.1505 and eventually 1.1474. However, If 1.1474 holds we might see a rejection further towards 1.1430 zone.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX

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