EUR/USD Still Bought On Dips

Augusts 18, 2017 13:31

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)

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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