The EUR/USD pair is currently reacting to a weekly order block, which is a strong supply zone. Price has shown a sharp bullish move into this area, tapping into liquidity.
Key Observations:
Weekly Order Block (Supply Zone): Price has entered a key resistance area, increasing the likelihood of a bearish reversal.
Daily Order Block: A smaller supply zone aligns with the weekly OB, reinforcing potential selling pressure.
5-Min Order Block: For lower timeframe confirmation, a 5-minute OB could serve as an early entry trigger.
Potential Scenarios:
🔹 Bearish (Red Path): A strong rejection from the order block could lead to a rapid sell-off, breaking lower timeframe structures and targeting liquidity below.
🔹 Retracement Before Drop (Blue Path): Price may consolidate or fake a bullish continuation before reversing and heading lower.
Key Levels to Watch:
1.05277: Major support zone; a break below could trigger further downside.
1.08313: Current resistance within the weekly order block.
🔻 Overall Bias: Bearish, waiting for confirmation and lower timeframe structure shifts before shorting.
📌 Risk Management: Always wait for confirmation before entering trades and use proper stop-loss placement.
Key Observations:
Weekly Order Block (Supply Zone): Price has entered a key resistance area, increasing the likelihood of a bearish reversal.
Daily Order Block: A smaller supply zone aligns with the weekly OB, reinforcing potential selling pressure.
5-Min Order Block: For lower timeframe confirmation, a 5-minute OB could serve as an early entry trigger.
Potential Scenarios:
🔹 Bearish (Red Path): A strong rejection from the order block could lead to a rapid sell-off, breaking lower timeframe structures and targeting liquidity below.
🔹 Retracement Before Drop (Blue Path): Price may consolidate or fake a bullish continuation before reversing and heading lower.
Key Levels to Watch:
1.05277: Major support zone; a break below could trigger further downside.
1.08313: Current resistance within the weekly order block.
🔻 Overall Bias: Bearish, waiting for confirmation and lower timeframe structure shifts before shorting.
📌 Risk Management: Always wait for confirmation before entering trades and use proper stop-loss placement.
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.
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.