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Demand Zone

EURGBP: Bearish Momentum Building, Potential Selling OpportunityThe EURGBP currency pair is showing signs of a bearish momentum shift, indicating a potential selling opportunity for traders. Currently trading at 0.8663, the pair has been facing resistance near the 0.8702 level, suggesting a possible downward movement. Several technical indicators support this bearish outlook. The pair's recent price action has formed a series of lower highs, indicating a weakening upward trend. Additionally, the 50-day moving average has crossed below the 200-day moving average, signaling a potential shift in market sentiment towards the downside. Traders may consider entering a short position if the price breaks below the immediate support level at 0.8663. A potential profit target could be set near the next support level at 0.8600, with a stop-loss ord er placed slightly above the recent resistance at 0.8702 to manage risk. It is important to conduct thorough analysis and closely monitor market conditions before executing any trades. This idea should be considered as a suggestion and not as financial advice.
Short
by hannyfx20
3
AUDUSD: Potential BuyHere is the Framework for this buy opportunity: Weekly: -we remain bearish on this time frame -we recently came out of an 11-week crunch/consolidation zone, breaking to the downside of it -currently, we have a bullish push on the pair, closing last week's candle as a bullish piercing -I reckon this momentum to be liquidity-led and we shall collapse once the hunt for fuel on the upside is over Daily: -we are bearish, playing out a Head and Shoulder pattern that's dictating my overall bias on the pair. -current price action, as intimated, is liquidity-focused as shared -I reckon we shall pick out orders off the order level at 0.67098, thereabouts, before we tank H4: -we broke structure to the upside with the most recent upswing on Thursday, June 1st -current bullish swing indicates that the market is, at the moment, bull-dominated -as is customary with a strong bull market, a 23.6% or 38.2% setup is most likely to ensue for a continuation -as such, I portend that we shall tap back into the previous consolidation floor around 0.65650: where we shall find support and where the current upswing had a momentary pause before finding a pool of orders to push to the upside (say, demand level) and form the most current high. -this level of demand, former support level for the consolidation that had been running for 11 weeks, and a 38.2% fib retracement level for the strong upswing offers a strong confluence level to stage a continuation from -considering that we are back within the previous zone of consolidation for the pair, I am reserved in my expectations for a strong bullish continuation and shall take it one step at a time Midrange/H1: -currently, this time frame mirrors the H4 swing. -as such, the fib retracement and key levels are the same -I intend to take on a buy at the key H4 level (my expected support price), which sits around the current demand level and at the 38.2% fib retracement level -I will target the 0% extension, better yet the wick level at 0.66285 where price picked orders in favor of a retracement on Friday's close This is a potential 60 pips; not bad for a start if we end up with the aligned setup. May the week be favorable to you! NOTE: this is just my opinion on how the market shall play out and should not be taken as financial advice. Kindly rely upon your own analysis and understanding of the market when making trade decisions.
Long
by lovinmulika
EURAUD I Approaching daily structure and strong demandWelcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
6