EUR/USD 4H - As you can see by the screenshot above price looks to be distributing. The reason I say this is because price is trading within a range currently.
This suggests that Supply is being introduced and Demand is being offloaded from the market, in doing so we can expect a reversal in trend from bullish to bearish.
To further back this we have had a penetration of a 4H Order-block, as well as a penetration of a 1M FVG. This is going to encourage price to take a move to the downside as it introduces more Supply.
As we know we have had positive USD news as of recent, this again is going to encourage the value of the dollar to appreciate, as a result cause this market to depreciate with the USD being quote.
This suggests that Supply is being introduced and Demand is being offloaded from the market, in doing so we can expect a reversal in trend from bullish to bearish.
To further back this we have had a penetration of a 4H Order-block, as well as a penetration of a 1M FVG. This is going to encourage price to take a move to the downside as it introduces more Supply.
As we know we have had positive USD news as of recent, this again is going to encourage the value of the dollar to appreciate, as a result cause this market to depreciate with the USD being quote.
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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.