My analysis this week is quite similar to GU. I’ll be looking for short opportunities to target a demand zone below current price. We’ve seen consolidation over the past week, which has built liquidity on both sides—and it's only a matter of time before that liquidity is swept.
What I’ll be watching for is a reaction at the current supply, where I’ll wait for price to slow down and distribute, giving us an opportunity to catch a retracement down toward a key area of interest for buys. If price reaches 1.12000 or lower, I’ll be looking for signs of accumulation and potential longs from there.
Confluences for EUR/USD Sells:
- The DXY has been bearish, but is approaching a demand zone, which could cause a reversal—aligning with EU shorts.
- A strong weekly supply zone is in play, which could trigger a bearish reaction.
- Plenty of liquidity and imbalances lie to the downside, ready to be cleared.
- A retracement is likely, considering the extended bullish momentum recently.
- Current consolidation suggests a breakout is near, and this supply zone is my nearest POI for shorts.
P.S. Stay flexible—once the consolidation breaks, assess how price behaves. Don’t lock yourself into one bias; always be prepared to adapt to what the market shows you.
What I’ll be watching for is a reaction at the current supply, where I’ll wait for price to slow down and distribute, giving us an opportunity to catch a retracement down toward a key area of interest for buys. If price reaches 1.12000 or lower, I’ll be looking for signs of accumulation and potential longs from there.
Confluences for EUR/USD Sells:
- The DXY has been bearish, but is approaching a demand zone, which could cause a reversal—aligning with EU shorts.
- A strong weekly supply zone is in play, which could trigger a bearish reaction.
- Plenty of liquidity and imbalances lie to the downside, ready to be cleared.
- A retracement is likely, considering the extended bullish momentum recently.
- Current consolidation suggests a breakout is near, and this supply zone is my nearest POI for shorts.
P.S. Stay flexible—once the consolidation breaks, assess how price behaves. Don’t lock yourself into one bias; always be prepared to adapt to what the market shows you.
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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.