EURUSD Possible bounce at W L3 -1.2246

Nenad Kerkez Top-XE

The EUR/USD has reached 1.2257 and bounced just above W L3 level 1.2246. At this point the W L3 holds the pair from further drop as it makes a confluence with D L3 level. If we see a retracement, pay attention to 1.2305-20 the POC zone. The EUR/USD might reject from the zone re-testing 1.2254-46. Further drop is expected below W L3 towards 1.2220 and 1.2204. Only 4h close above W H3-1.2338 should bring the pair into the bullish mode targeting 1.2372.

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
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)

Interested in EURUSD technicals? Check out the key levels

1. R3 1.2408
2. R2 1.2372
3. R1 1.2331
PP 1.2296
1. S1 1.2254
2. S2 1.2218
3. S3 1.2177

Author

Nenad Kerkez

Top-XE

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