EUR/USD Short term longs to a supplyThis week, I’ll be watching to see how much downside momentum remains after price reacted from my 8H supply zone. Just below the current price action, there’s a clean 3H demand zone I’m expecting price to mitigate — which could spark a bullish reaction or a short-term bounce.
My next supply zones are further above on the 2H and 5H timeframes, so I’ll be waiting to see whether we get another break of structure from this move, which could create a new, tradable supply zone. Ideally, I’ll wait for a Wyckoff schematic to develop at one of these key POIs before committing to a trade.
Confluences for EUR/USD Buys (Short-Term):
- Multiple liquidity points to the upside that price may seek to take out.
- A clean, unmitigated 3H demand zone just below the current level.
- The DXY is still showing weakness, aligning with bullish short-term EU moves.
- This could be a counter-trend opportunity before a larger sell-off resumes.
P.S. While my bias leans more towards selling from higher up, I’ll be open to counter-trend longs if the lower POIs hold. Just remember to keep your risk management tight and only take trades with clear confluence and confirmation.
