EURUSD 1-5 Apr 2024 W14 Weekly Analysis - NFP Week!This is my Weekly analysis on EURUSD for 1-5 Apr 2024 W14 based on Smart Money Concept (SMC) which includes the following Time Frames:
Weekly
Daily
4H
Economic Events
Weekly Chart Analysis
1.
Swing Bearish
Internal Bearish
Reached Swing EQ
Swing Continuation (Pro Swing + Pro Internal)
2.
After the Bearish iBOS we confirmed that the Swing Pullback is over and we will target the Weak Swing Low.
3.
Price had reached the Bearish INT Structure extreme and initiated the Bearish Internal Structure Continuation.
Expectation is to continue bearish and target he Weak INT Low.
Daily Chart Analysis
1.
Swing Bearish
INT Bearish
Swing Continuation / INT Continuation
2.
After the Bearish iBOS we confirmed that the Swing Pullback is over and we are expecting price to target the Weak Swing Low.
Also after iBOS we expected a pullback which we are currently in.
3.
Price didn't reach a HP POI to continue down, but price seems to be reacting from the Liq on the left.
With the current PA, expectation is set to target the Weak INT Low and further to the Weak Swing Low.
4.
Daily and Weekly demand zones for reactions once reached.
4H Chart Analysis
1.
Swing Bearish / Continuation
INT Bearish / Pullback Phase
2.
Finally with the Bearish iBOS we confirm the Swing Pullback is over and currently we align with the Bearish Swing targeting the Weak Swing Low.
After iBOS we expect a pullback. Bullish CHoCH will be the first sign of the the INT Structure Pullback.
Price had mitigated the 4H Demand for possible start of the Bullish Pullback of INT Structure.
More development on LTF required to confirm the Bullish Pullback Phase.
3.
4H and Daily Demand Zones for possible reactions only once reached.
Economic Events for the Week
D-EUR
Euro can bounce up of support level to 1.0845 points in channelHello traders, I want share with you my opinion about Euro. Some days ago price rebounded from the resistance line, which is located in the seller zone, and in a short time declined to the 1.0775 level, which coincided with the buyer zone, thereby breaking the 1.0890 level. After this, the EUR soon declined to the support line, breaking the support level too, but then the price turned around and started to rise. In a short time, the Euro reached a support level, broke it one more time, and continued to move up. After this, the price made a correction to the support line and then rebounded and made a strong impulse up to the resistance line, thereby breaking the 1.0890 level. But soon, the EUR turned around and soon declined to this level and even broke it again. As well then, the price continued to decline in a downward channel, where the Euro broke the support line too and later fell to the 1.0775 support level. But a not long time ago price rebounded and started to rise, so, I think that the Euro can rebound from the support level to the resistance line of the downward channel. For this case, I set my target at 1.0845 points. Please share this idea with your friends and click Boost 🚀
[EDU-Bite Sized Mini Series] Various FX involved,Mostly..Hello Traders, here we go again!
Let me cover a little bit more on the next topic in this mini series, the various currencies that are involved and a little descriptions about them! Let's begin!
In the vast realm of forex trading, understanding the intricacies of currency pairs is fundamental to success. As a Full-time forex trader with years of live experience, I'm here to shed light on the major and minor currency pairs that dominate the market.
Major Currency Pairs: The Powerhouses of Forex. Normally most retailers trade these pairs as they offer higher liquidity and therefore tighter spreads.
Major currency pairs are the cornerstone of forex trading, encompassing currencies from the world's largest economies. These pairs typically involve the most traded currencies globally and offer high liquidity and stability.
Among the major pairs, the most prominent include:
1. EUR/USD (Euro/US Dollar): Known as the "fiber," this pair represents two of the world's largest economies, the Eurozone and the United States. It's renowned for its liquidity and tight spreads.
2. USD/JPY (US Dollar/Japanese Yen): Dubbed the "ninja," , the JPY or the YEN, this pair reflects the economic relationship between the US and Japan, two economic powerhouses with distinct monetary policies.
3. GBP/USD (British Pound/US Dollar): Often referred to as "cable," this pair reflects the relationship between the UK and the US, and it's influenced by economic data, geopolitical events, e.g. Brexit developments.
4. USD/CHF (US Dollar/Swiss Franc): Known as the "swissie," this pair is influenced by safe-haven flows, Swiss banking policies, and US economic data.
5. AUD/USD (Australian Dollar/US Dollar): Termed the "aussie," this pair is closely tied to commodity prices, particularly gold and other precious metals, as Australia is a major exporter of raw materials.
6. USD/CAD (US Dollar/Canadian Dollar): Called the "loonie," this pair is heavily influenced by oil prices, given Canada's status as a major oil exporter.
Minor Currency Pairs: Navigating the Market Beyond Majors
While major pairs dominate forex trading, minor currency pairs offer unique opportunities that should not be overlooked as well. These pairs involve currencies from smaller or emerging economies and could be less liquid than their major counterparts.
Notable minor pairs include:
1. EUR/GBP (Euro/British Pound): This pair reflects the relationship between the Eurozone and the UK, and it's influenced by economic data from both regions. In my opinion, this pair quite frequently range and sometimes it is termed as "mean reverting pair".
2. EUR/JPY (Euro/Japanese Yen): Combining two major currencies, this pair offers opportunities for traders seeking exposure to both the Eurozone and Japan.
9. GBP/JPY (British Pound/Japanese Yen): Known for its volatility, this pair attracts traders looking to capitalize on the economic dynamics between the UK and Japan. It is also one of the top favorite for scalpers.
10. AUD/JPY (Australian Dollar/Japanese Yen): Influenced by commodity prices and risk sentiment, this pair is popular among traders seeking exposure to the Australian and Japanese economies.
3. NZD/USD (New Zealand Dollar/US Dollar): Known as the "kiwi," this pair reflects economic developments in New Zealand and global risk sentiment.
4. CAD/JPY (Canadian Dollar/Japanese Yen): This pair offers insights into the commodity markets and the economic relationship between Canada and Japan.
In conclusion, mastering major and minor currency pairs is essential for navigating the forex market effectively. Major pairs offer stability and liquidity, while minor pairs provide opportunities for some diversification. By understanding the dynamics of each currency pair and staying informed about global economic developments, traders can unlock the full potential of forex trading and achieve profitable outcomes in this dynamic and ever-evolving market. And of course don't forget about your technical analysis!
Thank you for your time and hope you have enjoyed the content and if you do so please leave a thumbs up or a comment if you have any suggestions to make this better!
Do check out the other links if you missed out on the other parts of this Forex Mini Series i put up for all (FREE)!
Signing out!
STBB
EurCad Looking for shorts on pullbackTradingview Ideas:
Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Do check out my stream video for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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Eurusd watching for pullbacks to shortTradingview Ideas:
Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
looking for reasons to short :)
Do check out my stream video for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
-- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! --
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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EURUSD 28 Mar 2024 W13 - Intraday Analysis - US GDP/JoblessThis is my Intraday analysis on EURUSD for 28 Mar 2024 W13 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H
15m
4H Chart Analysis
1.
Swing Bearish / Continuation
INT Bearish / Pullback Phase
3.
Finally with the Bearish iBOS we confirm the Swing Pullback is over and currently we align with the Bearish Swing targeting the Weak Swing Low.
After iBOS we expect a pullback. Bullish CHoCH will be the first sign of the the INT Structure Pullback.
Price had mitigated the 4H Demand for possible start of the Bullish Pullback of INT Structure.
More development on LTF required to confirm the Bullish Pullback Phase.
3.
4H and Daily Demand Zones for possible reactions only once reached.
15m Chart Analysis
1.
Swing Bearish
Internal Bearish
2.
After the Bearish BOS we expect a Pullback.
Price reached the 4H demand and the nested 15m Demand which is mitigated after the bullish CHoCH initiating the 15m INT Structure Pullback.
Expectations is set for price to initiate the 15m Swing Pullback Phase with a Bullish iBOS. But be mindful that price could continue bearish targeting 4H Weak Swing Low.
3.
15m/4H Supply zones for possible short options once reached.
🤽♂EURUSD bullish pullbackEUR/USD Technical Analysis 📉📈📊
Current Price: 1.08360 🟢
Recent Pullback: The EUR/USD pair retraced from the level of 1.07980.📉📈📊
Retest of Support: It's currently retesting the support level around 1.08260, indicating a potential bullish sentiment.
Trade Target: The next significant resistance level lies at 1.08881, which presents an attractive target for bullish momentum.📉📈📊
Trading Plan:
- Entry: Consider entering a long position if the price breaks convincingly above the resistance level at 1.08260.
- Stop Loss: Place a stop loss below the support level to manage risk in case of a reversal.
Take Profit Aim for a take profit level near the resistance at 1.08881, capturing potential upward movement.
Risk Management Always adhere to proper risk management principles, ensuring that potential losses are controlled and manageable relative to the trading account size. ❤️👍 Good luck 🤞
Pales safe trade 🙏❤️ don't forget like and comments
EURUSD Potential DownsidesHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.08250 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.08250 support and resistance area.
Trade safe, Joe.
Could EURUSD bounce from here?EUR/USD is falling towards a pullback support and could potentially bounce off this level and rise to our take profit.
Entry: 1.07998
Why we like it:
There is an overlap support level
Stop loss: 1.07621
Why we like it:
There is a pullback support which aligns with the 78.6% Fibonacci projection
Take Profit: 1.08573
Why we like it:
There is a swing high resistance
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Buy EURUSD News BasedThe EUR/USD pair on the M30 timeframe presents a potentially ambiguous situation with an expanding triangle pattern. While this pattern can signal a breakout in either direction, some caution is advised before entering a long (buy) position.
Potential Long Trade :
Entry around: 1.0823 (current price)
Target Levels:
1.0880: This represents the upper trendline of the triangle, which could act as the initial upside target upon a confirmed breakout.
1.0900: This is a further extension of the upside target, based on the recent price movement.
Stop-Loss: Place a stop-loss order below the lower trendline of the triangle, ideally around 1.0807. This helps limit potential losses if the price breaks down from the triangle pattern.
Thank you.
EURUSD 27 Mar 2024 W13 - Intraday AnalysisThis is my Intraday analysis on EURUSD for 27 Mar 2024 W13 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H
15m
4H Chart Analysis
1.
Swing Bearish
INT Bullish / Continuation Phase
Swing Pullback Phase
2.
After a BOS and iBOS we expect a Pullback.
As expected after the Bullish CHoCH and mitigation of 4H/Daily Demand zones, we initiated the INT Structure Pullback.
Price reached the 4H/Daily Supply and from there we could start the bearish continuation.
Price failed to continue the bearish move and as expected it changed bullish and created iBOS confirming Swing Low and Bearish Swing Pullback Phase started.
3.
4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
After iBOS we expect a pullback. Price had reached the INT Structure Demand zone and created a Bullish CHoCH which indicates that the INT Pullback maybe over and we are currently targeting the Weak INT High. after which price failed to target the Weak INT High.
Current price indicate that we will have a deep 4H INT Pullback to maybe the 4H/Daily Demand zones before any continuation.
4.
Current PA is still showing that the 4H Strong INT Low is holding but the OF is Bearish and Supply still in control.
A bullish CHoCH will indicate imo a HP confirmation for the INT Structure to continue bullish.
15m Chart Analysis
1.
Swing Bearish
Internal Bearish
Swing Continuation Phase
2.
After the Bearish BOS we expect a Pullback.
The 4H demand is already mitigated after the Bullish CHoCH on the 4H TF but seems to be some orders still remaining within the 4H Demand and the 4H Extreme which is providing the pullback for the Bearish iBOS.
Current PA is pointing to targeting the Weak Swing Low but again be mindful of the Strong INT Low on the 4H which is still holding.
Bullish iBOS will confirm imo a HP Bullish continuation.
3.
Price reached the reached the 15m FLIP Zone and initiated the INT Pullback which caused a bearish iBOS aligning again with the 15m Bearish Swing.
Euro can rebound up to 1.0860 points, breaking resistance levelHello traders, I want share with you my opinion about Euro. If we look at the chart, we can see how the price some days ago started to trades in a downward channel, where it first rebounded from the support line and rose to the 1.0940 resistance level, which coincided with the seller zone. Soon, the price broke this level, and some time traded in the seller zone, but later EUR declined below, after which backed up to this zone. But soon, the price turned around and made a downward impulse to the current resistance level, which coincided with the resistance area. Then price rebounded from this level and rose to the past level, which coincided with the resistance line of the channel, after which turned around and made a downward impulse again to support line of the channel, thereby breaking the 1.0835 level. In a short time, prices rose higher than this level, but recently fell back and even lower resistance area. At the moment, I think that the Euro can decline a little more, after which the price rebounds up to 1.0860 points, thereby breaking the resistance level inside the downward channel. Please share this idea with your friends and click Boost 🚀
EURUSD 4H Death Cross emerging after +2 months.The EURUSD pair is ahead of the first Death Cross on the 4H time-frame since January 19 2024, trading within a Channel Down similar to January's. This technical symmetry suggests that every rebound is a short-term sell opportunity, with the 4H MA200 (orange trend-line) expected to turn into a Resistance until the next Bullish Leg.
One last rally towards 1.08750 is possible but as mentioned, for the next 2 weeks, we expect Support 1 (1.07950) to break and fall towards Support 2 (1.06950). We set a more modest target on the Symmetrical Support Zone at 1.07250.
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EURUSD Structured entry levels for buying and selling.EURUSD is on the 2nd Bearish Wave of the Rectangle since the start of the year.
That is in the form of a Channel Down, so far identical to the 1st.
This, along with the Fibonacci retracement levels offer stable entries for both buying and selling.
Trading Plan:
1. Sell on the current market price.
2. Sell on the next MA50 (4h) rejection after that.
Targets:
1. 1.07350 (bottom of Channel Down.
2. 1.07000 (bottom of Rectangle).
Tips:
1. The RSI (1h) is below its MA level, confirming that we are indeed on a downtrend structure.
Please like, follow and comment!!
Notes:
Past trading plan:
EURUSD 26 Mar 2024 W13 - Intraday Analysis - US Durable GoodsThis is my Intraday analysis on EURUSD for 26 Mar 2024 W13 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H
15m
4H Chart Analysis
1.
Swing Bearish
INT Bullish / Continuation Phase
Swing Pullback Phase
2.
After a BOS and iBOS we expect a Pullback.
As expected after the Bullish CHoCH and mitigation of 4H/Daily Demand zones, we initiated the INT Structure Pullback.
Price reached the 4H/Daily Supply and from there we could start the bearish continuation.
Price failed to continue the bearish move and as expected it changed bullish and created iBOS confirming Swing Low and Bearish Swing Pullback Phase started.
3.
4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
After iBOS we expect a pullback. Price had reached the INT Structure Demand zone and created a Bullish CHoCH which indicates that the INT Pullback maybe over and we are currently targeting the Weak INT High. after which price failed to target the Weak INT High.
Current price indicate that we will have a deep 4H INT Pullback to maybe the 4H/Daily Demand zones before any continuation.
4.
As expected, Price reached the 4H/Daily demand zone as referred to the deep INT Structure Pullback.
Price created a Bullish CHoCH at the INT Structure Extreme which is a sign that the deep pullback may ended and we could be in the Bullish move to target the Weak INT High.
More bullish price development on LTF is required to confirm the current expectations of continuation bullish.
15m Chart Analysis
1.
Swing Bearish
Internal Bearish
Swing Continuation Phase
2.
After the Bearish BOS we expect a Pullback.
After mitigating the 15m/4H Demand zones, INT Structure turned Bullish confirming the Swing Low and the Swing Pullback Phase started.
Expectations is set to for price to continue bullish till the Swing EQ/Premium to facilitate the Swing Pullback Phase.
3.
Price reached the 4H Supply and initiated the INT Structure Pullback which was also a HP supply zone for Shorts to continue the Swing Bearish Move.
INT Structure turned bearish aligning with the Bearish Swing for bearish continuation.
Expectation is set to continue bearish to target the Weak Swing Low. But be mindful that the 4H still bullish and we are in the 4H INT Structure Discount/Extreme and maybe we will stay bullish. Bullish iBOS will confirm the bullish scenario.
EURGBP Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring EURGBP for a buying opportunity around 0.85500 zone, EURGBP was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.85500 support and resistance area.
Trade safe, Joe.
EURJPY,🟢Bullish scenarios🟢
As you can see, the price created equal highs defined as our final target.
There are two possible scenarios.
Personally, I prefer to see the price move lower once again, and after collecting the sell side liquidity get support from the mean threshold of the order block and the midway of the bullish daily FVG, then we can look for the LTF for entry. It's a high-probability scenario.
The second scenario is a low probability, which is the price moves higher from here and leaves the sell side liquidity untouched.
💡Wait for the update!
🗓️25/03/2024
🔎 DYOR
💌It is my honor to share your comments with me💌
EURO - Price can turn around and bounce down to $1.0770 levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Some time ago price started to decline near support line, but sometimes it rose to resistance zone, but soon continued to fall.
In a short time later, Euro even made fake breakout of support line, after which tried to rise but failed.
Price fell to $1.0700 points, after which it turned around and in a short time rose to $1.0905 level, breaking $1.0770 level.
After this, price broke $1.0905 level and rose a little more, but later started to decline in falling channel.
Euro declined until to support line of channel, breaking $1.0905 and simply support line, after which bounced up.
So, I think Euro can rise a little more, after which EUR will bounce down to $1.0770 support level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
EURCHF Wait for the perfect long-term Sell.The EURCHF pair is trading within a Channel Down pattern since the September 26 2023 Low. The current Bullish Leg is approaching the first 1D Golden Cross since February 06 2023, which was formed after the last Lower High on the 1.5 Fibonacci extension.
That (Fib 1.5 ext) is the ideal sell entry, which is currently at 0.9900 but the Risk/ Reward Ratio is good enough for a long-term sell even on the current levels. Our Target is the Channel's median at 0.95650, a little over the 0.618 Fibonacci level.
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EURUSD - Bearish Move ExpectedEuro bounces back a little after falling sharply
The Euro (EUR) gained a little ground against the US Dollar (USD) on Monday. This might be because some traders were buying Euros after they had sold them recently (profit-taking).
Last week, the Euro fell a lot after data showed the US economy was doing better than expected. This data made some investors think the US Federal Reserve might not cut interest rates as much as they planned this year. Lower interest rates in the US would make the Dollar less attractive to investors.
Even though the Euro went up a little today, analysts still think it could fall more in the future. This is because the Swiss National Bank (SNB) surprised everyone by cutting rates last week. Investors are now wondering if the European Central Bank (ECB) might do the same. The ECB and SNB sometimes copy each other's decisions, although usually the SNB follows the ECB.
There isn't any important economic data coming out about the Eurozone this week, so there probably won't be many big changes in the exchange rate. Also, it's Easter holiday soon, which could mean less trading activity.
Euro stays strong despite calls for rate cuts
The Euro held its value even though some important people at the ECB said they think interest rates should be cut soon.
One ECB official said inflation is going down quickly and that most people at the ECB now agree to cut rates. This makes it more likely that the ECB will cut rates in June or even earlier. Lower rates would generally make the Euro less attractive to investors.
Another ECB official said he is confident that wages are not growing too quickly, which is another reason why the ECB might cut rates soon.
Short-term outlook for EUR/USD: Downward trend
In the short term, the Euro seems to be getting weaker against the Dollar. This is because the Euro has been making lower and lower prices recently. Investors often follow the trend, so this could mean more people will sell Euros in the coming days.
Buy EURGBP Bullish PennantThe EUR/GBP pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish pennant pattern. This pattern often suggests a continuation of the prior uptrend after a brief consolidation phase.
Key Points:
Buy Entry: Consider entering a long position (buying) around the current price of 0.8576, positioned near the support line of the pennant. This offers an entry point close to the perceived continuation of the uptrend.
Target Levels: Initial bullish targets lie at the following levels:
0.8616: This represents the height of the pennant, measured from the top trendline to the bottom trendline, projected upwards from the breakout point.
0.8640: This is a further extension of the upside target, based on the height of the previous price movement before the pennant formation.
Stop-Loss: To manage risk, place a stop-loss order below the support line of the pennant, ideally around 0.8560. This helps limit potential losses if the price breaks down from the pennant pattern.
Thank you
EURUSD 25 Mar 2024 W13 - Intraday Analysis - US New Home SalesThis is my Intraday analysis on EURUSD for 25 Mar 2024 W13 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H
15m
4H Chart Analysis
1.
Swing Bearish
INT Bullish / Continuation Phase
Swing Pullback Phase
2.
After a BOS and iBOS we expect a Pullback.
As expected after the Bullish CHoCH and mitigation of 4H/Daily Demand zones, we initiated the INT Structure Pullback.
Price reached the 4H/Daily Supply and from there we could start the bearish continuation.
Price failed to continue the bearish move and as expected it changed bullish and created iBOS confirming Swing Low and Bearish Swing Pullback Phase started.
3.
4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
After iBOS we expect a pullback. Price had reached the INT Structure Demand zone and created a Bullish CHoCH which indicates that the INT Pullback maybe over and we are currently targeting the Weak INT High. after which price failed to target the Weak INT High.
Current price indicate that we will have a deep 4H INT Pullback to maybe the 4H/Daily Demand zones before any continuation.
4.
As expected, Price reached the 4H/Daily demand zone as referred to the deep INT Structure Pullback.
Price created a Bullish CHoCH at the INT Structure Extreme which is a sign that the deep pullback may ended and we could be in the Bullish move to target the Weak INT High.
More bullish price development on LTF is required to confirm the current expectations of continuation bullish.
15m Chart Analysis
1.
Swing Bearish
Internal Bullish
Swing Pullback Phase
2.
After the Bearish BOS we expect a Pullback.
After mitigating the 15m/4H Demand zones, INT Structure turned Bullish confirming the Swing Low and the Swing Pullback Phase started.
Expectations is set to for price to continue bullish till the Swing EQ/Premium to facilitate the Swing Pullback Phase.
3.
Swing Extreme Supply zones on 15m nested within the 4H Supply for HP Swing Bearish Continuation.
EUR/USD is Aiming for 1.07 zone (3/25/2024)Hello Traders
EUR/USD had some upward corrections from "14 Feb 2024" until "8 March 2024".
FED news(PPI, CPI, and interest rate) turned the table and changed the upward momentum into a downward movement.
Right now the price has broken the upward channel and made a pullback on it.
So we believe the price will reach lower levels.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)