​EUR/USD H8 Chart is Showing a Possible Retracement

August 08, 2018 17:54

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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