By Admiral Markets
Source: Admiral Markets MT5 platform
The EUR/USD has touched Daily H5 camarilla resistance and we can see a retracement that might target the POC zone. POC zone 1.2430-15 could reject the pair but if the EUR/USD drops below the trend line, we might see a deeper retracement. Pay attention to order block confluence with 23.6 around 1.2461 as it can also reject the pair above 1.2500 towards 1.2530. Its not just a coincidence that the pair was sold at 1.2530 as the levels is the strong D H5 resistance.
If the EUR/USD drops below the 1.2415 we could see a deeper retracement towards 1.2373 and 1.2340.
D H3 – Daily Camarilla (Strong Daily Resistance)
D H4 – Daily Camarilla (Very Strong Daily Resistance)
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D H5 – Daily Camarilla (Strongest Daily Resistance)
D L3 – Daily Camarilla (Daily Support)
D L4 – Daily Camarilla (Very Strong Daily Support)
D H5 – Daily Camarilla (Strongest Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
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Article by Admiral Markets
Source: EUR/USD has Reached Daily H5 Camarilla Resistance
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.
