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EUR/USD Multiple Bullish Patterns for Uptrend Continuation

Juni 06, 2018 12:44

EURUSD - 06.06.2018

Source: Admiral Markets MT5 with MT5SE Add-on

The EUR/USD was sold on rallies and bought on dips as I predicted in the FXStreet poll. Yesterday's drop to 1.1650 has been bought, and the market is bullish right now. We can see a huge inverted head and shoulders coupled with a smaller pattern that has formed today. 1.1700-10 is the POC bouncing zone if we see a retracement. A 4h close or 1h momentum above the red dotted line ( Inv. Head and Shoulders breakout) – 1.1740 should provide a continuation towards 1.1765, 1.1792 and eventually 1.1820.

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)

Best wishes,

Nenad

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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.


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