The EUR/USD has been acting exactly as we planned it and traded it on Weekly Recap webinar. The situation hasn’t changed a lot. In the top left corner you can see the ATR of the pair that is 60 pips(!). That indicates a slow moving low volatile price. On top of that, the pair is moving in a well defined, two-way range. We always need to adapt to current market conditions, so we have 4 possible zones. Two for buying and two for selling. 1.1185-90 POC (b) ( double bottom, historical buyers, YL, D L4, ATR pivot) is the first zone where now moment buyers might wait and push the price up. Deeper retracement to the downside suggests POC2 (b) 1.1160-70 ( W L3, ATR low, WL, D L5, historical buyers). Sellers reside at the first POC (s) 1.1230-40 (D H4, YH, ATR high, W H3, historical sellers). If the price proceeds above 1.1240, we might be looking for POC2 (s) 1.1255-65 (W H4, ATR top, historical sellers).
