Technical Analysis

Daily Technical Analysis: EUR/USD Bullish Patterns Forming On Intraday Time Frame

Typography

The EUR/USD has bounced above Weekly L3 camarilla, that suggest a possible upmove continuation. We can see two POC zones. The POC1 (W L3, ATR Pivot, D L4, order block, 50.0, EMA89) 1.1420-35 could spike the price towards 1.1475 and 1.1505, while in the case of deeper retracement , he pair might hit the POC2 (88.6,trend line, ATR low, D L5) 1.1400-1.1385 and then spike again towards 1.1440, 1.1475 and 1.1505. In that case it will form inverted head and shoulders pattern (bullish shs) which will be another sign of uptrend continuation.

Author: Admiral MarketsWebsite: http://www.admiralmarkets.com/
Admiral Markets
The Wave Analysis it for today the most flexible, powerful and perspective tool which allows to predict tendencies which lead to certain changes on financial charts on all time pieces. One of properties of this tool is its insufficient formalisation, proceeding from it the opinion of the author of the forecast made on the basis of the Wave Analysis always is subjective. As the Wave Structure constantly varies, the forecast on the basis of the Wave Analysis reflects opinion of the author at the moment of the forecast publication. The Wave Analysis is not trading system. It not the generator of signals on the conclusion or an exit 1from the transaction, therefore the schematical direction of movement of the price put on the chart should not be for the trader the guide to action on opening of positions. In case of formation in the market of conditions which, according to the author it is possible to use for drawing up of the trading plan - on a chart levels of acknowledgement of the chosen scenario, optimum areas of an input and levels of cancellation of the chosen scenario will be specified in addition.
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