The EUR/USD has made a bearish move and the intraday trend is bearish. However, this is looking like a range play and we might see a rejection if the price gets to 1.1590, eventually 1.1560. Interim range is 1.1790-1.1590. For short trades 1.1665-80 is the zone where fresh sellers are waiting and the first target is 1.1590. A profit taking between 1.1560-90 levels might turn the price up for 1.1680 retest.
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W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
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W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
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W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
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D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
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D L3 – Daily Camarilla Pivot (Daily Support)
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D L4 – Daily H4 Camarilla (Very Strong Daily Support)
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POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
EURUSD Current Trading Positions
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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