EUR/USD Still Kept in a Very Tight Range

June 14, 2017 12:18

The EUR/USD has been acting exactly as we planned it and traded it on Weekly Recap webinar. The situation hasn't changed a lot. In the top left corner you can see the ATR of the pair that is 60 pips(!). That indicates a slow moving low volatile price. On top of that, the pair is moving in a well defined, two-way range. We always need to adapt to current market conditions, so we have 4 possible zones. Two for buying and two for selling. 1.1185-90 POC (b) ( double bottom, historical buyers, YL, D L4, ATR pivot) is the first zone where now moment buyers might wait and push the price up. Deeper retracement to the downside suggests POC2 (b) 1.1160-70 ( W L3, ATR low, WL, D L5, historical buyers). Sellers reside at the first POC (s) 1.1230-40 (D H4, YH, ATR high, W H3, historical sellers). If the price proceeds above 1.1240, we might be looking for POC2 (s) 1.1255-65 (W H4, ATR top, historical sellers).

At this point EUR/USD should be contained between these zones.

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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)

YL- Yesterday low

WL - Weekly low

YH - Yesterday high

WH - Weekly high

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

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