EURUSD 9/6/24

9 Jun

Starting things off with euro to the USD this pair has finally shifted bearish into the higher time for a narrative we have mentioned so many times over the last fortnight. This means for us this week we are predominantly focusing on bearish movements, as it stands we have an nfp range this is the overall range responsible for shifting us bearish, Within the 4 hour time frame we still have no low of this range.
Because of this we are still waiting for this range to form properly before we begin to interpret the appropriate point to enter. But as always we have an idea of what we would like to see which is the following. A price pulling back after either liquidating the nearest low or forming a low above this point, Then pulling back to the area of unmitigated supply that we have highlighted above this. for us this is the ideal area to sell from it sits above 50 percent of this range and it also is the area responsible for breaking our major structural point down.

As we head into this week we are going to be waiting for this range to form properly before we begin to formulate sell or buy setups.

What we have shown and spoke about here is our overall main idea so we will wait for this to start playing out and give the principal some fluidity.

Wishing you all the best trading week and remember to reprice trade with appropriate risk and always use a stop loss.