By Admiral Markets
The expected win of newly elected president Emmanuel Macron seem to be priced in the market after a successful rally as we shown in the previous EUR/USD analysis. At this point the pair is heading towards the POC zone 1.0930-50 where we could see a possible bounce. As the ATR of EUR/USD is low – only 77 pips, levels to watch for are 1.0990 and 1.1020. However the loss of 1.0930 is a possible signal for a deeper retracement towards 1.0870. Retail gap could only be closed if the pair broke below 1.0820.
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W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
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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)
Article by Admiral Markets
Source: EUR/USD 1.0930-1.0950 is Point Of Confluence
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