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 happened 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