The EUR/USD has formed a bullish divergence at the confluence – POC. The POC 1.0535-60 ( historical buyers, M L3, W L3, W L4, bullish divergence) is at the strong support indicated by camarilla pivot points. If 1.0500 stays strong the POC could reject the price towards 1.0618, 1.0650 and 1.0700.
Have in mind that these are counter trend movements and the trend is still bearish. However due to a potential reversal at POC, the pair could reject towards above mentioned levels.
M L3 – Daily Camarilla Pivot (Monthly Interim Support)
M H3 – Daily Camarilla Pivot (Monthly Interim Resistance)
M H4 – Daily Camarilla Pivot (Very Strong Monthly Resistance)
M L4 – Daily Camarilla Pivot (Very Strong Monthly Support)
W L5 – Weekly Camarilla Pivot (Strongest Weekly Support)
W H3 – Weekly H3 Camarilla (Weekly Interim Resistance)
POC – Point Of Confluence (The zone where we expect price to react – aka entry zone)
Origin: Admiral Markets
