Source: EUR/USD H8 Chart, Admiral Markets MT5 with MT5 Add-On, August 2018
The EUR/USD is in a downtrend but the pair has been ranging last few days. At this point we see a possible retracement to 1.1615-40, close to historical sellers. A rejection from the POC zone should target 1.1516. However a bounce from 1.1670 should make a bullish u-turn towards 1.1700 and 1.1750.
Source: EUR/USD H8 Chart, Admiral Markets MT5 with MT5 Add-On, 1 November 2015 - August 2018
- W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
- W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
- W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
- D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
- D L3 – Daily Camarilla Pivot (Daily Support)
- D L4 – Daily H4 Camarilla (Very Strong Daily Support)
- POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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