EURUSD 05/02/2024 Update

Daily

Trend = Bearish
Price currently at internal 4 hour demand and 4 hour trend is bullish.
A break below 4 hour demand will shift 4 hour trend bearish, and this then confirms the internal trend now aligns with high timeframe daily trend, making shorts valid.



4 Hour

Price is at 4 hour extreme demand.
Looking to break below to confirm daily pro trend.
Internal price is in a supply chain with LL and LH being formed.
Unmitigated supply zone sitting above in orange.
Considering daily pro trend is bearish, there must be a significant bullish change of character to take longs to 4 hour weak highs.



M15

M15 trend = bearish
Unmitigated supply with massive FVG following NFP.
Monday after NFP market does behave weirdly. I stay away.
Internal price is also in bearish structure, with breaks to the down side.



Currently, letting price play out and settle after NFP Friday.

Cheers