Bearishness in SIGHT...
Updated
Picking up from our earlier analysis on the EURUSD, we have seen the market progress in our direction.
The market moved according to our prediction and went all the way to hit our liquidity target at 1.06168.
The market proceeded to tap into our Daily Bearish Zone and from there it is beginning to reverse bearish.
On the Daily, it is clear that the market has come to our zone.
A Bearish reversal is expected at this level to see prices drive all the way down to the liquidity target at 1.04482.
Because we are familiar with the markets, we know that price never moves in a straight line. We would go down to the smaller timeframe to see how this movement progresses in successive swings towards the Daily liquidity target at 1.06168.
On the 1 hour and the 4 hour, there is no clear sign of reversal yet. But if we take a closer look at the smaller timeframes of the 5 minutes and lower, we should see a clear sign of our reversal.
The market moved according to our prediction and went all the way to hit our liquidity target at 1.06168.
The market proceeded to tap into our Daily Bearish Zone and from there it is beginning to reverse bearish.
On the Daily, it is clear that the market has come to our zone.
A Bearish reversal is expected at this level to see prices drive all the way down to the liquidity target at 1.04482.
Because we are familiar with the markets, we know that price never moves in a straight line. We would go down to the smaller timeframe to see how this movement progresses in successive swings towards the Daily liquidity target at 1.06168.
On the 1 hour and the 4 hour, there is no clear sign of reversal yet. But if we take a closer look at the smaller timeframes of the 5 minutes and lower, we should see a clear sign of our reversal.
Note
On the 30 min chart, we see the market has u turned Bearish with a valid Panzy Pips Block (PB) from which we are looking to trade.
Our target is the Daily liquidity target far down below
Trade active
From yesterday's analysis of this pair, we discovered a possibility of the market staying Bearish for quite a while. This is in view of our prediction of the market coming into our Daily reversal zone after a long rally and, from there, falling off Bearish up to the Daily timeframe liquidity target.
Looking at the charts today, particularly from the 1-hour perspective,we see that our predictions are playing out. The market has taken the bearish momentum in full gear.
The market is Bearish on the Daily and on the 1-hour timeframes.
That notwithstanding, we are noticing a bit of Bullish reversal currently. This is due to the fact that this market is currently around a 4-hour zone from the large 4 hour Panzy Pips Block (PB).
We might see some bullishness at this level, but definitely not enough to reverse the strong Bearish momentum. All we expect from the zone are pullbacks to help traders take the trade entry.
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