Trading news

EUR/USD Two POC Zones Waiting For Possible Sellers

The EUR/USD spiked above 1.0500 reaching 1.0575. The move was sparked by stop grabbers above 1.0520 and yuan depo rates flying to 96.6%. Yen demand was huge, sending the dollar down across the board. At this point the USD is recovering while EUR/USD might get rejected from POC1 and 2.
Technically we see 2 POC zones. POC 1.0520-35 (61.8, trend line, ATR pivot) could reject the price towards 1.0460. If the EUR/USD spikes above POC, we should watch for possible rejection off POC2 1.0570-85 (ATR top, trend line, 78.6) towards 1.0520 and 1.0460. 1.0460 is a support now and only a momentum break on 1h or 4h close below 1.0460 should target 1.0420 again.

Thursday, 05 Jan, 2017 / 12:06

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.admiralmarkets.com/analytics/technical-analysis/eur-usd-two-poc-zones-waiting-for-possible-sellers

Trading news

 

GBPUSD On Track To Settle Above 1.3700

The British pound sterling continues to keep a bullish hold. After failing to [...]

Posted on Friday, 22 Jan, 2021 / 12:08 under

Crude Holds Near Highs

The crude market saw a much quieter period of trading this week. Price [...]

Posted on Friday, 22 Jan, 2021 / 12:07 under

Biden To Push Through Stimulus Aid

Greenback Fades as Bears Take Control The US index dropped towards the 90 [...]

Posted on Friday, 22 Jan, 2021 / 12:06 under