EUR/USD Regular Bullish Divergence In 4h Timeframe

Nenad Kerkez

The EUR/USD has reached W L4 support and we can see that the price has established a bullish divergence. If the 4h candle doesn’t close below the W L4 – 1.1834 we might see a bounce to the upside possibly targeting W H3-1.2022 and W H4 – 1.2085. However 1.2050-85 is the zone for short sellers. If the price rejects from the zone, targets should be 1.2022, 1.1964 and 1.1897 that would complete a W L3 retest.

  • W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
  • W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
  • W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
  • M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)
  • M L3 – Monthly Camarilla Pivot (Monthly Support)
  • M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)
  • POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

EURUSD 4 Hour Chart

EURUSD 4 Hour Chart

Source: admiralmarkets.com

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