I anticipate EURUSD to wait for a decline in selling pressure and for the price to enter a demand zone, providing an opportunity for an upward buy. Currently, my focus lies on the two 5-hour demand zones that triggered the recent CHOCH.
This bias is more favorable as it aligns with the existing bullish trend in the EURUSD market. Despite my overall bearish outlook on this market, the ongoing bullish rallies remain robust. Furthermore, I anticipate further upside in the market to eventually reach a more premium supply zone.
Confluence for EURUSD Buys are as follows:
- Lots of liquidity left above in the form or trend lines and asian highs.
- Two demand zones on the 5hr time frame that has caused a CHOCH to the upside.
- This idea aligns with the temporary bullish trend that EURUSD has generated.
- Selling pressure is slowly getting exhausted and is pending an accumulation.
- For price to continue going higher and create a new leg it must react off a near demand.
P.S. The price has responded to a 50-minute supply zone, initiating bearish momentum. Now, I am anticipating the price to descend and undergo accumulation within the specified zones I have identified.
Comment your thoughts below and let me know what you guys think of EURUSD's current price
This bias is more favorable as it aligns with the existing bullish trend in the EURUSD market. Despite my overall bearish outlook on this market, the ongoing bullish rallies remain robust. Furthermore, I anticipate further upside in the market to eventually reach a more premium supply zone.
Confluence for EURUSD Buys are as follows:
- Lots of liquidity left above in the form or trend lines and asian highs.
- Two demand zones on the 5hr time frame that has caused a CHOCH to the upside.
- This idea aligns with the temporary bullish trend that EURUSD has generated.
- Selling pressure is slowly getting exhausted and is pending an accumulation.
- For price to continue going higher and create a new leg it must react off a near demand.
P.S. The price has responded to a 50-minute supply zone, initiating bearish momentum. Now, I am anticipating the price to descend and undergo accumulation within the specified zones I have identified.
Comment your thoughts below and let me know what you guys think of EURUSD's current price