EUR/USD Trend is Up but Watch the POC Zone

Nenad Kerkez
EUR/USD Trend is Up but Watch the POC Zone
A collection of euro banknotes with nominal fifty

Trend lines are a very important price action tool as we could also see in the yesterday’s GBP/JPY analysis. The price respected trend lines and GBP/JPY went up as expected. Today, 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. The general trend is up, but you always need to pay attention to important zones and levels.

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

Best wishes,

Nenad

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