What happened with EURUSD (EXPLAINED and WHAT NEXT)
Hello Traders !
We have seen EURUSD dropping a lot today. But WHY?
Actually we have seen there a nice daily level of support which was broken today. Also a Demand Zone. The thing this the Demand Zone became a Supply Zone due to the pressure from the sellers and pushed the price to the downside. We have seen that on the news today. They were good for EUR but it went immediately down which indicates us the pressure from the sellers.
What Next?
My thoughts are that the price will go up to the Supply Zone again. I don't see the Supply Zone very strong because the h4 close shows bullish pressure. We are right now at a daily level of Demand which is very strong. From this Demand Level I expect in all scenarios a push to the Upside. This Up Move is still confirmed by Elliot Wave.
The question right now is: Will it drop again from the Supply Zone? The answer to this question can only tell us Price Action . We need to watch it carefully. Also consider that all the retail Trader will short the EU at the resistance line which was the previous daily level of support.
My thoughts are to buy at the daily level at the bottom and to swing trade EURUSD to the upside or to scalp it till the Supply Zone.
Let me now in the comment section below your view on EURUSD and what you think about my Analysis.
Please leave a Like
Thank you and we will see next time
- Darius.
We have seen EURUSD dropping a lot today. But WHY?
Actually we have seen there a nice daily level of support which was broken today. Also a Demand Zone. The thing this the Demand Zone became a Supply Zone due to the pressure from the sellers and pushed the price to the downside. We have seen that on the news today. They were good for EUR but it went immediately down which indicates us the pressure from the sellers.
What Next?
My thoughts are that the price will go up to the Supply Zone again. I don't see the Supply Zone very strong because the h4 close shows bullish pressure. We are right now at a daily level of Demand which is very strong. From this Demand Level I expect in all scenarios a push to the Upside. This Up Move is still confirmed by Elliot Wave.
The question right now is: Will it drop again from the Supply Zone? The answer to this question can only tell us Price Action . We need to watch it carefully. Also consider that all the retail Trader will short the EU at the resistance line which was the previous daily level of support.
My thoughts are to buy at the daily level at the bottom and to swing trade EURUSD to the upside or to scalp it till the Supply Zone.
Let me now in the comment section below your view on EURUSD and what you think about my Analysis.
Please leave a Like
Thank you and we will see next time
- Darius.
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