EURO - Weekly First Mover ?
Updated
A further dig into Sellside liquidity is what we saw last week before closing above the weekly fair value gap, completing a 6-week consecutive run. With that being said, I was expecting a further decline last week with the opportunity for the prior weeks low to be swept @ 1.07227 which we witnessed.
This current weeks trading, I was expecting a sell-off into the depths of the
EURUSD abyss but instead, from Monday going into Wednesday, we have seen a bullish price action, with Tuesdays daily candle closing in a premium whilst 
GBPUSD is still in a discount.
Whilst analysingEURUSD I understood that some of the risks I was taking with my bearish bias is the fact that we have been bearish for an extended period of time + EURUSD hammered into the weekly FVG without closing underneath it + new intra-day lows was created. So I am keeping my eyes peeled @ the 1.08310 upper daily displacement FVG as if I see a daily candle body closure above that region, the probability for 1.07617 Sellside to be taken this week would be slim.
WillEURUSD faulter and drop back into a discount whilst GBPUSD front runs the market or do we get GBPUSD lagging behind with bullish buy stops next in line?
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
This current weeks trading, I was expecting a sell-off into the depths of the
EURUSD abyss but instead, from Monday going into Wednesday, we have seen a bullish price action, with Tuesdays daily candle closing in a premium whilst GBPUSD is still in a discount. Whilst analysing
EURUSD I understood that some of the risks I was taking with my bearish bias is the fact that we have been bearish for an extended period of time + EURUSD hammered into the weekly FVG without closing underneath it + new intra-day lows was created. So I am keeping my eyes peeled @ the 1.08310 upper daily displacement FVG as if I see a daily candle body closure above that region, the probability for 1.07617 Sellside to be taken this week would be slim.Will
EURUSD faulter and drop back into a discount whilst GBPUSD front runs the market or do we get GBPUSD lagging behind with bullish buy stops next in line? My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
Note
From the beginning of this week, I was expecting a further decline in EURUSD whilst the 
DXY run on buy stops but what we got was a bullish retracement in EURUSD and bullish retracement in DXY which is not the type of correlation I want to see.However, it does mean that if
DXY is to continue running on short-term buy stops, that would apply much more short pressure on EURUSD, causing price action to trade back in a discount and potentially test this weeks open @ 1.07778
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.