EUR/USD Potential for 1.1700 and Above

September 11, 2018 11:55

Source: Admiral Markets MT5 with MT5SE Add-on 11.09.2018 09:40 AM

The EUR/USD moved exactly as planned and as previously predicted. The price is bouncing in regards to the Weekly supports, and the trend line has been compromised. If the price closes above the trend line at 1.1645, we could see 1.1685 and potentially 1.1730. That would qualify for a full bullish ascending scallop pattern. Only a close below 1.1520 will negate a bullish scenario.

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 - Monthly Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Monthly Camarilla Pivot (Daily Support)

D L4 – Monthly H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect the price to react - aka the entry zone)

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