EURUSD 19/8/24

8月19日

Starting off our week as always with EUR/USD, we have a very simple markup for you this week. We liquidated our four-hour high, which was created after the break of the previous structural high. This has now established a clear liquidity trajectory to the upside. We have an area of demand that sits around the 50% level of the last created range. This will be the first area where we will begin anticipating bullish price action. We’re currently waiting for the four-hour candle to close so we can form our new four-hour high.

The main principle here is that we expect price action to continue moving bullishly, but we are aware of the potential for higher time frame weekly price action to start leading the market with a bearish push. However, for now, we're only seeing upside momentum, so we will follow that. Please note that we have liquidity points marked within our swing structure. If we begin to fail at areas of demand, these could become potential targets. Price action is pretty clean right now, so let's just follow it and continue to track what price is showing us within our entry time frame.

Have an amazing week, and I hope you all trade safe.