EUR/USD Buys from 1.09400 back up
EU's market structure is currently very similar to other setups I'm watching. After a bearish run over the past week, I expect price to slow down as it approaches the key 7-hour demand zone I’ve marked out. Once price sweeps the liquidity at the equal highs (EQHs), I’ll be watching for accumulation on the lower time frames (LTF) before a potential mitigation of the 7-hour demand zone.
If price doesn’t reach this demand and instead pushes up to mitigate a supply zone like the 15-hour or 5-hour above, I’ll shift my focus to selling in line with the bearish trend. For now, I’m waiting to see how the market behaves at the open to decide on the next move.
Confluences for EU Buys:
- The 7-hour demand zone has triggered a CHOCH to the upside.
- There are major imbalances and liquidity above that need to be filled.
- For price to retrace to the supply zone, it will need to move upward.
- The US Dollar Index (DXY) is sitting in a strong supply zone, which could trigger a dollar drop and support bullish momentum for EU.
Note: If price breaks through the demand zone, it will also break more significant structure to the downside, confirming a long-term bearish outlook for EU.
If price doesn’t reach this demand and instead pushes up to mitigate a supply zone like the 15-hour or 5-hour above, I’ll shift my focus to selling in line with the bearish trend. For now, I’m waiting to see how the market behaves at the open to decide on the next move.
Confluences for EU Buys:
- The 7-hour demand zone has triggered a CHOCH to the upside.
- There are major imbalances and liquidity above that need to be filled.
- For price to retrace to the supply zone, it will need to move upward.
- The US Dollar Index (DXY) is sitting in a strong supply zone, which could trigger a dollar drop and support bullish momentum for EU.
Note: If price breaks through the demand zone, it will also break more significant structure to the downside, confirming a long-term bearish outlook for EU.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.