EUR/USD Stuck in a Range with Possible Move Down if Below 1.0850

Updated : Apr 9, 2020, 08:20 UTC1min read
The EUR/USD is bearish on 3 consecutive timeframes on my CAMMACD.SIT template. The price is below the channel on H4, H1 and M15.
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Dear Traders,

The EUR/USD is bearish on 3 consecutive timeframes on my CAMMACD.SIT template. The price is below the channel on H4, H1 and M15.

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We can see that the price is moving sideways. However, we can see that the EUR/USD is also trying to break below 1-2-3 pattern on M15 timeframe. A consecutive break below 1.0850 should target 1.0820 and 1.0795. If this happens, we might be on the way towards 1.0700 level retest. If the EUR/USD fails to close below 1.0850 on then, we should see a further range play.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

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