EUR/USD Trend Lines in Confluence with POC zone

EUR/USD Trend Lines in Confluence with POC zone
EUR/USD Trend Lines in Confluence with POC zone

The EUR/USD is in a strong bullish trend and as we can see on the chart the price has pierced through 1.1800 driven by risk sentiment and the Spain situation. Today FOMC meeting minutes are the most important event so we might see two-way price action. At this point the price is still going up straight from the trend line and 23.6 fib. Continuation above 1.1855 aims for 1.1880 and 1.1895. However, if the price gets in a retracement phase watch for 1.1760-75 zone (D L4, EMA89, trend line, ATR low, W H3). Targets remain the same if the pair breaks 1.1810 on the bounce up. Only a move below 1.1750 might make a bearish breakout towards 1.1720 and 1.1695.

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)

PPR – Progressive Polynomial Channel

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

Follow @TarantulaFX on twitter for latest market updates

Sign up for Live Trading Webinars with Nenad Kerkez T

Don't miss a thing!
Discover what's moving the markets sign up for a daily update delivered to your inbox

More Forecasts

See All
E-mini Dow Jones Industrial Average

E-mini Dow Jones Industrial Average (YM) Futures Analysis – December 13, 2017 Forecast

AUD/USD and NZD/USD

AUD/USD and NZD/USD Fundamental Daily Forecast – RBA Chief Says “Speculative Mania” Surrounding Cryptocurrencies

daily economic calendar

Daily Economic Calendar, December 13, 2017

Expand Your Knowledge

See All
So who has the most advanced cyber technology

So Who Has the Most Advanced Cyber Warfare Technology?

Your own cryptocurrency: not difficult, but expensive

Make Your own Cryptocurrency: Not Difficult, But Expensive

Watch Out: What Do Elon Musk and Bill Gates Know about Artificial Intelligence

Watch Out: What Do Elon Musk and Bill Gates Know about Artificial Intelligence

Favorites

SymbolLast PriceChange
EURUSD
EUR/USD
1.1827
+0.0086
+0.73%
GBPUSD
GBP/USD
1.3413
+0.0095
+0.71%
XAUUSD
Gold
1255.5
+12.415
+1%
CL
Crude Oil
56.685
-0.7350
-1.28%
SPX
S&P 500
2669.2
+4.5000
+0.17%
DAX
DAX 30
13074.0
-98.000
-0.74%
Live Quotes

Top Promotions

Top Brokers

Don't miss a thing!

Discover what's moving the markets sign up for a daily update delivered to your inbox