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EUR/USD Ascending Trend Lines Mark Up the Trend-Watch the POC zone

June 12, 2018 11:44

EURUSD - H1 - 12.06.2018Source: Admiral Markets MT5 with MT5SE Add-on

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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