Trend lines are a very important price action tool as we could also see in the yesterday's analysis. The price respects trend lines a lot and we can spot the trend easily. The EUR/USD is still bought on dips and the price is currently above both ascending trend lines and D L3 pivot. The POC 1.1755-70 is a very important zone. Bounce above the zone should target 1.1798 followed by 1.1818. Continuation above targets 1.1870. On the contrary, a drop below 1.1750 should target 1.1715 and 1.1664. General trend is up, but you always need to pay attention to important zones and levels.
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)
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.