EUR/USD to push above to 1.12299
Scenario A:
Market open price pushes down taking both equal low liquidity and trendline liquidity tapping into the 1H demand at the swing low beneath the Asian low then pushing up into the 2day supply taking the triple equal highs.
Scenario B:
Price pushes up at Market open and taps into my 38min zone and continue in its HTF downtrend taking all the liquidity to the downside. This zone is validated by a LTF Change of character. It is also possible price may react from this zone in order to carry out scenario A.
Although scenario B is likely I believe that Scenario A is most likely to play out as this is supported by price breaking structure to the upside and the amount of strong bullish candles to the upside. This also correlates with the Dollar as I am expecting price to be bearish this week on DXY. It is also possible that price may push straight into this 2 day supply without tapping into any of my zones which I would then use as liquidity points and TP targets.
Ultimately, my objective is to be open minded and understand the different possibilities and outcomes of what the market can do and be able to adapt to each scenario accordingly. Hope this analysis helps you going into this week :D
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.