The EUR/USD has been trapped in a narrow range between 2 POC zones that mark possible buying and selling. The zone has been formed
The EUR/USD has been trapped in a narrow range between 2 POC zones that mark possible buying and selling. The zone has been formed after the low volatility bank holidays on Friday and Monday so now, the pair is in no man’s land.
POC where EUR/USD might reject comes within 1.0540-60 (W L3, historical buyers and bullish divergence) while POC for fresh sellers comes within 1.0690-1.0715 (W H5, ATR high, historical sellers). Small colored lines (green highlight) mark ATR projection pivot points. Rejection from upper POC should target 1.0645 (W H4 and ATR Pivot confluence) and 1.0600 (ATR low) while rejection from lower POC targets same levels 1.0600 and 1.0645.
EUR/USD 4H Chart
Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets
