Successful delivery this week with daily sell stops taken out @ 106.566 as expected. This caused risk on conditions for FX pairs; GBPUSD and EURUSD.
The heaviness to the downside indicates continuation to the downside.
106.111 - 105.440 is a price region i am scoping
The heaviness to the downside indicates continuation to the downside.
106.111 - 105.440 is a price region i am scoping
Note
So far, we have seen bearish price action throughout the week but we are still in a discount.This did not matter as GBPUSD still delivered to my weekly target which I cover more in depth later on. EURUSD is facing high resistance conditions and has not delivered as anticipated yet.
When studying the daily timeframe, it’s clear that today’s price is currently trading inside Monday’s 24th February 2025 bullish hammer candle formation which indicates short term indecision.
106.111 is still in my scopes for bearish delivery this week. Current lows is 106.106 which was booked this Monday.
Risk on conditions will allow EURUSD to run more freely to the upside but for now, its best to sit on your hands and wait to see what EURUSD is willing to do.
Note
Failed to close the week bearish.
Weekly bearish order block is the last line of defence
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.