EUR/USD: Technical outlook and review.
4hr TF.
The higher-timeframe picture resembles the following:
Weekly TF: Current trading action is taking place deep within a weekly demand area at 1.31037-1.32262; a close below here could force prices down to weekly demand at 1.26591-1.28010.
Daily TF: At the time of writing, buyers and sellers are seen battling it out within a daily demand area at 1.31037-1.31755 (located deep within the aforementioned current weekly demand area). If buying interest comes into the market here, the first trouble area on the horizon is a small daily decision-point level at 1.31915 positioned just above the daily demand area. If a close below is seen, we see very little stopping price from hitting the daily demand area at 1.27541-1.28676, which is based just within the weekly demand area at 1.26591-1.28010.
The market opened (1.31273) just within the 4hr demand area at 1.31037-1.31278 (active buy order set just above at 1.31333). A valiant attempt to push prices higher was seen by the buyers forming a new minor high at 1.31443, this did not last long though as the sellers had other plans, and slammed price back down to around the 4hr demand area.
Assuming the buyers show more enthusiasm, our first take-profit target is set at 1.31833 (minor 4hr supply). Nevertheless, we still have to consider the possibility of price breaking below the aforementioned 4hr demand area. A break below would no doubt force price to test the round number 1.31, if there are limited buy orders here, this opens the door for a challenge of the huge-figure number below at 1.3, since most of the demand has likely been consumed by the following tails/spikes: 1.30656/1.30475 (take a look for yourself, it’s a thing of beauty).
Pending orders/P.A confirmation levels:
• The pending buy order (Green line) set just above 4hr demand (1.31037-1.31278) at 1.31333 is now active, so do keep an eye on our first take-profit target set at 1.31833.
• No P.A confirmation buy levels (Red line) are seen in the current market environment.
• No pending sell orders (Green line) are seen in the current market environment.
• No P.A confirmation sell levels (Red line) are seen in the current environment.
• Areas to watch for buy orders: P.O: 1.31333 (Active) SL: 1.30988 TP: [1] 1.31833 [2] 1.32064). P.A.C: No P.A confirmation buy levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell levels are seen in the current market environment.
The higher-timeframe picture resembles the following:
Weekly TF: Current trading action is taking place deep within a weekly demand area at 1.31037-1.32262; a close below here could force prices down to weekly demand at 1.26591-1.28010.
Daily TF: At the time of writing, buyers and sellers are seen battling it out within a daily demand area at 1.31037-1.31755 (located deep within the aforementioned current weekly demand area). If buying interest comes into the market here, the first trouble area on the horizon is a small daily decision-point level at 1.31915 positioned just above the daily demand area. If a close below is seen, we see very little stopping price from hitting the daily demand area at 1.27541-1.28676, which is based just within the weekly demand area at 1.26591-1.28010.
The market opened (1.31273) just within the 4hr demand area at 1.31037-1.31278 (active buy order set just above at 1.31333). A valiant attempt to push prices higher was seen by the buyers forming a new minor high at 1.31443, this did not last long though as the sellers had other plans, and slammed price back down to around the 4hr demand area.
Assuming the buyers show more enthusiasm, our first take-profit target is set at 1.31833 (minor 4hr supply). Nevertheless, we still have to consider the possibility of price breaking below the aforementioned 4hr demand area. A break below would no doubt force price to test the round number 1.31, if there are limited buy orders here, this opens the door for a challenge of the huge-figure number below at 1.3, since most of the demand has likely been consumed by the following tails/spikes: 1.30656/1.30475 (take a look for yourself, it’s a thing of beauty).
Pending orders/P.A confirmation levels:
• The pending buy order (Green line) set just above 4hr demand (1.31037-1.31278) at 1.31333 is now active, so do keep an eye on our first take-profit target set at 1.31833.
• No P.A confirmation buy levels (Red line) are seen in the current market environment.
• No pending sell orders (Green line) are seen in the current market environment.
• No P.A confirmation sell levels (Red line) are seen in the current environment.
• Areas to watch for buy orders: P.O: 1.31333 (Active) SL: 1.30988 TP: [1] 1.31833 [2] 1.32064). P.A.C: No P.A confirmation buy levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell levels are seen in the current market environment.
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