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 StrongDaily Resistance)
DL3 – Daily Camarilla Pivot (Daily Support)
DL4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
