EUR/USD is Bearish Below 1.0680

January 12, 2017 12:47

The EUR/USD has spiked to 1.0660 zone today and as I showed on previous Session Recap webinar, it was clear to me that it should reject from the zone. The situation is clear now too. We have a huge bearish divergence within 1.0650-75 zone (Bearish order block, ATR top, H4). This is a major resistance. Unless we see a momentum break of 1.0680 towards 1.0750, the EUR/USD should remain bearish. POC zone should hold for bears and if 1.0680 breaks, bulls could have a breakout towards 1.0720 and 1.0750 as it will possible be a stop grabber in play. Targets are 1.0600 and 1.0560-30 zone for bearish drop. Below 1.0530 target will be 1.0490. Strong momentum above 1.0680 targets 1.0720 and 1.0750.

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