Currently, the 15-minute structure indicates a bearish trend and it's expected that there will be a pullback to address the discounted supply zone. The price is displaying liquidity-inducing behavior before entering the zone. It's important to note that the 4-hour structure is also bearish, and we are nearing the completion of a 50% discount in the swing pullback leg. The observed reaction could potentially be a tactic to attract sellers since we may experience a significant pullback to the 4-hour supply zone at 1.07620 before resuming the shorting trend.
My plan is to short EURUSD in the short term with my initial target set at 1.06650, followed by the full target at 1.06430, with a focus on the demand zones. Once the price reaches these levels, I will be waiting for a confirmation to enter a long position. My target for the long trade will be the 4-hour supply zone at 1.07620, where I anticipate a potential trend continuation to short EURUSD.
My plan is to short EURUSD in the short term with my initial target set at 1.06650, followed by the full target at 1.06430, with a focus on the demand zones. Once the price reaches these levels, I will be waiting for a confirmation to enter a long position. My target for the long trade will be the 4-hour supply zone at 1.07620, where I anticipate a potential trend continuation to short EURUSD.