The correction continues on EURUSD.
Both the daily and 4H timeframes show sideways ranges, with seller initiative in control. The boundaries of the sideways ranges are marked with black lines.
However, sellers appear weak — the price has been stuck for several hours inside a buyer attack bar near the upper boundary of the range. Now, sellers are attempting to absorb this buyer bar.
If considering long setups, it's safer to look for patterns near the daily level of 1.13126, or from the lower boundary of the 4H range.
Another option is to wait for a confirmed breakout above the range.
Searching for buys in the upper part of the current range is risky.
This analysis is based on the Initiative Analysis concept (IA).
Wishing you profitable trades!
Both the daily and 4H timeframes show sideways ranges, with seller initiative in control. The boundaries of the sideways ranges are marked with black lines.
However, sellers appear weak — the price has been stuck for several hours inside a buyer attack bar near the upper boundary of the range. Now, sellers are attempting to absorb this buyer bar.
If considering long setups, it's safer to look for patterns near the daily level of 1.13126, or from the lower boundary of the 4H range.
Another option is to wait for a confirmed breakout above the range.
Searching for buys in the upper part of the current range is risky.
This analysis is based on the Initiative Analysis concept (IA).
Wishing you profitable trades!
Note
A local range has formed near the upper boundary of the larger sideways structure (marked in gray on the chart).
A buyer attempted to break out of this local range with a wick on increased volume, but the seller absorbed the move.
This adds another signal favoring a potential decline — at least toward 1.13126.
Wishing you profitable trades!
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Wishing you profitable trades!
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.