HomeContributorsTechnical AnalysisEUR/USD H8 Chart Is Showing A Possible Retracement

EUR/USD H8 Chart Is Showing A Possible Retracement

The EUR/USD is in a downtrend but the pair has been ranging last few days. At this point we see a possible retracement to 1.1615-40, close to historical sellers. A rejection from the POC zone should target 1.1516. However a bounce from 1.1670 should make a bullish u-turn towards 1.1700 and 1.1750.

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)

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