EUR/USD Ascending Trend Lines Mark Up the Trend-Watch the POC zone
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)
Best wishes,
Nenad
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