EUR/USD Still In Uptrend But Watch 1.1825 and 1.1721

The EUR/USD is still in uptrend after Friday’s NFP and by looking at important weekly camarilla pivots we can see that the price has been trapped between Weekly L3 and H3 level that is a perfectly normal movement as those are major levels before the price makes a breakout above or below.

Since the pair is still in uptrend, the rejection from 1.1720 zone is targeting 1.1825. If we see a breakout or 4h close above the 1.1825 we might see 1.1875 and 1.1910. Only above 1.1910, 1.1960-90 will be possible. Have in mind that W H5 (1.1960 ) and M H3 (1.1987) are strong resistance levels as shown in the chart. However, as the price still hasn’t made a higher high on 4h chart and if it fails to close above 1.1825, then a rejection towards 1.1720 could be possible again. I expect sellers to show around 1.1825 so we need to see the reaction. Only the break of 1.1720 will aim for 1.1670 and 1.1585.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

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