EUR / USD New week idea.
Based on the seasonal tendencies of the EUR/USD December contract, it appears that from October to mid-November, there is a bearish direction, and from the middle of November, there is a shift towards a bearish direction. You can refer to this video for more information: YouTube link.
So, based on the monthly chart, the target is to reach 1M IMB to cover that inefficiency. This aligns with the seasonal tendencies indicating a shift in mid-November.
On the weekly chart, we can observe a strong reaction from the 1W IMB, where the price was rejected, showing respect for it and adhering to the bearish trend.
On the daily chart, it is apparent that the price is starting a correction with a 1D BOS. There are multiple BSL liquidity points and a 1D open OB on the 1W OTE, indicating that the price could potentially experience a correction.
Therefore, in the short term, I expect the price to move to capture some liquidity for another short-term move.
On the 4H chart, there is a nice 4H IMB for retracement, suggesting a bullish move.
So, for the sentiment in the coming week, it appears to be bullish. We will verify this on Monday.
So, based on the monthly chart, the target is to reach 1M IMB to cover that inefficiency. This aligns with the seasonal tendencies indicating a shift in mid-November.
On the weekly chart, we can observe a strong reaction from the 1W IMB, where the price was rejected, showing respect for it and adhering to the bearish trend.
On the daily chart, it is apparent that the price is starting a correction with a 1D BOS. There are multiple BSL liquidity points and a 1D open OB on the 1W OTE, indicating that the price could potentially experience a correction.
Therefore, in the short term, I expect the price to move to capture some liquidity for another short-term move.
On the 4H chart, there is a nice 4H IMB for retracement, suggesting a bullish move.
So, for the sentiment in the coming week, it appears to be bullish. We will verify this on Monday.
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