PRE FOMC Coverage: EUR/USD Bearish Head and Shoulders For Possible Drop

Mai 24, 2017 17:02

On hawkish FOMC, the EUR/USD could drop from POC and POC2. POC 1.1180-1.1200 (D H3, Top of Left Shoulder, ATR Pivot) could reject the price lower towards 1.1150 and 1.1080. In the case of deeper retracement (less hawkish FOMC or dovish FOMC) the POC2 1.1220-30 (D H4, ATR Pivot) could reject the price down IF the price stays below 1.1270. Above 1.1270, 1.1300 should be exposed.

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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)