THOUGHTS ON EUR/USD
EUR/USD 4H - How we getting on folks, above is my thoughts for this pair and how I can see it playing out over the course of the next week or so. Firstly you can see price has traded us down and into a Demand Zone.
Should price hold and not absorb the entire zone and continue to trade us lower I feel price will go on to trade us bullish longer term, as it stand price is showing good signs of that.
We have recently seen price trade us up and into an area of Supply which has caused price to trade lower, this is due to Supply being inroduced depreciating the market. However I feel this could be short lived.
You can see price is now hovering over another area of Demand, price has failed to break below this and this is because of the liquidity thats sat there. I would like to see price accumulate now before taking us higher in the market.
Should price hold and not absorb the entire zone and continue to trade us lower I feel price will go on to trade us bullish longer term, as it stand price is showing good signs of that.
We have recently seen price trade us up and into an area of Supply which has caused price to trade lower, this is due to Supply being inroduced depreciating the market. However I feel this could be short lived.
You can see price is now hovering over another area of Demand, price has failed to break below this and this is because of the liquidity thats sat there. I would like to see price accumulate now before taking us higher in the market.
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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.