EURUSD - As you can see from the chart, the setup for this week is quite similar to the others we have posted. Any setup involving the US dollar appears to have a comparable outlook, assuming the price moves as we anticipate. My current plan is to look for an immediate push towards the supply area above, followed by a continued drop. If we do not see a reaction at that supply level, I will then consider the supply level above that. Ideally, I would like to see a new low formed before we push towards this supply level, but given the major downtrend, I prefer to capture the move before it passes us by. In the event that these areas do not pan out and we instead reach a new high, we will consider buying opportunities outside of the range. However, my overall sentiment is bearish.
As always, we'll be closely monitoring market openings and adjusting our strategy accordingly. The areas of supply above look particularly attractive for potential sales, as there is clear imbalance and momentum coming from the downside. Additionally, we have a major swing low that has yet to be tested, as well as a major swing high, creating opportunities for trades between these areas.
As always, we'll be closely monitoring market openings and adjusting our strategy accordingly. The areas of supply above look particularly attractive for potential sales, as there is clear imbalance and momentum coming from the downside. Additionally, we have a major swing low that has yet to be tested, as well as a major swing high, creating opportunities for trades between these areas.
