The Technical Confluences Indicator shows that the recent rise of the EUR/USD sends it to a price were several technical barriers converge around $1.2330, making it a strong line of resistance. The area is the meeting place of the Fibo 23.6% 1d, SMA50-4h, SMA50-1d, SMA200-1h, SMA 5-1hv, SMA10-1d, BB 15m-Middle-Stdv and more. A break above this line opens the door to much higher levels with very few dense clusters on the upside. A notable confluence area is $1.2412, which is the meeting point of the one week high, Fibo 61.8% 1M, Pivot Point 1d R2 and the Bolinger Band 1d-Upper Stdv. All in all, these points are relatively weak, and the pair has a lot of room to rise. Looking down, things are much busier, and any fall will find many cushions on the way down. Below immediate support levels, $1.2277is a small cluster where the Fibo 23.6% 1M and the Fibo 61.8% 1d meet. Confluence Detector The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. This means that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas. Learn more about Technical Confluence Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam EUR/USD Daily share Read Next GBP: BoE Heading For A Hike In May & Another One In Nov – Danske Yohay Elam 5 years The Technical Confluences Indicator shows that the recent rise of the EUR/USD sends it to a price were several technical barriers converge around $1.2330, making it a strong line of resistance. The area is the meeting place of the Fibo 23.6% 1d, SMA50-4h, SMA50-1d, SMA200-1h, SMA 5-1hv, SMA10-1d, BB 15m-Middle-Stdv and more. A break above this line opens the door to much higher levels with very few dense clusters on the upside. A notable confluence area is $1.2412, which is the meeting point of the one week high, Fibo 61.8% 1M, Pivot Point 1d R2 and the Bolinger Band 1d-Upper… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
