EUR/USD H8 Chart is Showing a Possible Retracement
Source: EUR/USD H8 Chart, Admiral Markets MT5 with MT5 Add-On, August 2018
The EUR/USD is in a downtrend but the pair has been ranging last few days. At this point we see a possible retracement to 1.1615-40, close to historical sellers. A rejection from the POC zone should target 1.1516. However a bounce from 1.1670 should make a bullish u-turn towards 1.1700 and 1.1750.
Source: EUR/USD H8 Chart, Admiral Markets MT5 with MT5 Add-On, 1 November 2015 - August 2018
- 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)
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.
