EUR/USD Multiple Bullish Patterns for Uptrend Continuation

June 06, 2018 11:44

Source: Admiral Markets MT5 with MT5SE Add-on

The EUR/USD was sold on rallies and bought on dips as I predicted in the FXStreet poll. Yesterday's drop to 1.1650 has been bought, and the market is bullish right now. We can see a huge inverted head and shoulders coupled with a smaller pattern that has formed today. 1.1700-10 is the POC bouncing zone if we see a retracement. A 4h close or 1h momentum above the red dotted line ( Inv. Head and Shoulders breakout) – 1.1740 should provide a continuation towards 1.1765, 1.1792 and eventually 1.1820.

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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