EUR/USD Buys from 6hr demand at 1.11200
EUR/USD (EU) Analysis:
I’m expecting price to move down slightly to sweep the liquidity resting at the equal lows. Once those lows are taken, I anticipate price to slow down and begin accumulating in my 6-hour demand zone, where I’ll be looking for potential long opportunities. This aligns with the current bullish trend, making it a pro-trend setup.
If price moves up without sweeping the equal lows, I’ll shift my focus to selling from the 16-hour supply zone above. For now, EU is caught between areas of liquidity, so I’ll wait until midweek to assess where it stands before making a decision.
Confluences for EU Buys:
- There’s significant liquidity above the demand zone, which is a positive signal.
- The demand zone has led to a break of structure to the upside.
- The overall trend remains bullish, supporting this pro-trend idea.
- The (DXY) continues to show bearish momentum, which supports a bullish EU outlook.
There are still imbalances and liquidity above that need to be filled.
Note: Price has already reacted to the 4-hour supply zone I marked last week, which could be causing this minor pullback towards the 6-hour demand zone.
Have a great trading week, everyone!
I’m expecting price to move down slightly to sweep the liquidity resting at the equal lows. Once those lows are taken, I anticipate price to slow down and begin accumulating in my 6-hour demand zone, where I’ll be looking for potential long opportunities. This aligns with the current bullish trend, making it a pro-trend setup.
If price moves up without sweeping the equal lows, I’ll shift my focus to selling from the 16-hour supply zone above. For now, EU is caught between areas of liquidity, so I’ll wait until midweek to assess where it stands before making a decision.
Confluences for EU Buys:
- There’s significant liquidity above the demand zone, which is a positive signal.
- The demand zone has led to a break of structure to the upside.
- The overall trend remains bullish, supporting this pro-trend idea.
- The (DXY) continues to show bearish momentum, which supports a bullish EU outlook.
There are still imbalances and liquidity above that need to be filled.
Note: Price has already reacted to the 4-hour supply zone I marked last week, which could be causing this minor pullback towards the 6-hour demand zone.
Have a great trading week, everyone!
Penafian
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