Are We Still Bearish on The EURUSD, Or Is It Time To Go Bullish?
Updated
From our previous analysis of this pair, we have been able to keep track of a lot of the market and price movements.
Analyzing the markets from a 1-hour perspective over the past few days, we have witnessed a lot of back and forths, though in all of those, the market found ways to take us to our targets at each of those instances before catapulting in several directions. So today, we will be looking at this pair from a 4-hour perspective.
On the higher timeframes of the monthly, weekly, and daily, we find an agreement of direction, with all of these timeframes indicating that the market is currently bearish.
On the 4-hour chart, we find the market is currently in a down trend, making 1 PB down. This week, we have seen the market plummet down to spike the 4-hour liquidity target, but without taking it out or closing below it. Instead, prices ran bullish after hitting the 1 hour timeframe liquidity target at the same level.
Enough of the narrative. Now the analysis.
From a 4-hour perspective, the price is currently in a bearish trend and is now on a bullish retracement. Price seems to be aiming for some higher level within the PB to get its reversal. When the reversal comes, we would expect prices to dip all the way to our 4-hour liquidity target below. That is the move necessary to complete the 4-hour swing and move us into the next bearish PB on the 4-hour.
Upon
Analyzing the markets from a 1-hour perspective over the past few days, we have witnessed a lot of back and forths, though in all of those, the market found ways to take us to our targets at each of those instances before catapulting in several directions. So today, we will be looking at this pair from a 4-hour perspective.
On the higher timeframes of the monthly, weekly, and daily, we find an agreement of direction, with all of these timeframes indicating that the market is currently bearish.
On the 4-hour chart, we find the market is currently in a down trend, making 1 PB down. This week, we have seen the market plummet down to spike the 4-hour liquidity target, but without taking it out or closing below it. Instead, prices ran bullish after hitting the 1 hour timeframe liquidity target at the same level.
Enough of the narrative. Now the analysis.
From a 4-hour perspective, the price is currently in a bearish trend and is now on a bullish retracement. Price seems to be aiming for some higher level within the PB to get its reversal. When the reversal comes, we would expect prices to dip all the way to our 4-hour liquidity target below. That is the move necessary to complete the 4-hour swing and move us into the next bearish PB on the 4-hour.
Upon
Trade active
As expected and as pustulated from our earlier analysis today, we have seen prices soar all the way up into the refined zone of the 4 hour PB, and from there reverse bearish to run the 4 hour extension. Our target is the earlier marked-out 4-hour liquidity target, and from there, we would expect to see prices hit the daily liquidity target too.
Trade closed: stop reached
The market which was coming down bearish following the 4 hour setup, found support at the 1 hour zone and from there u-turned bullish. The bullishness saw the 4 hour bearishness come to an end.
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