By Admiral Markets
The EUR/USD has been bought on dips exactly from the zone I showed during Live trading webinar. Major weekly L5 support is still keeping the pair within the bullish range with a potential to break above 1.1790. If the pair drops to POC zone (W L5, D L4, trend line, ATR low) 1.1680-50 it could possibly spike again towards 1.1755. Above there is cluster of resistance 1.1777, 1.1790 and 1.1800. Only above 1.1800 (ATR high) we can see a continuation towards 1.1850, 1.1864 and 1.1907.
However a loss of 1.1650 should tank the pair down to 1.1593.
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W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
Free Reports:
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)
Source: EUR/USD Still Bought On Dips
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