Old volume accumulation from April about to be approached at 11463 area. This area should be a natural resistance and a good take profit on buy trades.
Quite a significant rejection of price at around the 11256 level. Didn't think much of it at first, however there is a surprisingly large volume node at 11268.7. This has been resistance in the recent past.
Price on the EUR/USD gapped up on the week opening and accelerated upwards unencumbered after a long morning consolidation period. I expect to see a pull back towards the daily point of control towards the existing gap.
Daily EURUSD still below the 10EMA, so I am bearish. Levels as you can see at the below dashed ray lines (1.11464 and 1.11156) looking to take profit on the short at these points and reverse into a buy for a quick day trade/scalp.
First level reached has confluence as a previous resistance and a fair value gap (still not convinced on the validity of these)....
Price went down and hit a previously marked level at 11083.6 and bounced. However I believe there is still strong selling pressure and the trend will continue to the downside.
There is another high volume area waiting below at 10996.5, Confluence here as this area was the volume point of control on the 10th April.
Usually would trade this as a buy when the...
Very weak low in this range shown at the horizontal ray. I expect this to be taken out at some point to "grab" liquidity. Fairly large HVN also though which could suggest a bounce as buyers defend.
When this range breaks I am unsure if it will break up or down. EUR/USD trading fairly high and dollar sentiment seems to be picking up a little, so I think it will...
EUSR/USD forming a carbon copy inverse of the DXY on daily timeframe (stands to reason). Will we see the other half play out? Bulls still seem in control, but such meteoric rise surely comes with some correction to the downside as the dollar strengthens?
One half of an inverse head and shoulders formed on the 1D chart. Pattern could complete on talks of tariffs calming. Ukraine mineral agreement will be good for USD long term.
Awaiting price to climb to purple ray line. High Volume node on the volume profile indicates previous selling activity. Sellers should defend from this point.
