EUR/USD Higher Highs And Higher Lows For Uptrend Continuation

The EUR/USD continues to make higher highs and higher lows that is a sign of  a steady uptrend. At this point the POC zone 1.1605-20 (D L4/L5, 38.2, EMA89, W L3) looks firm and if the price retraces to the zone we might see another push to the upside. Targets are 1.1683 and 1.1720. However, if we don’t see a pullback into the POC zone, watch for breakout above 1.1683 that should target 1.1720. Above it the pair might go to 1.1800 during the week. As long as the pair is above 1.1522 ( W L4/trend line confluence), bulls are safe.

• 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)

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets