As the EURUSD
resets for the next trading week, price closes at 1.1795, inside a contraction level zone around 1.182/1.178, nearest demand zone
around 1.172/1.168, nearest supply zone
around 1.188/1.192, with weekly close reset trading range between 1.19 & 1.17, these are the areas of interest in this chart as of the week close. For price action, there's this wedge-like structure forming up on the hourly, and on the zoomed-out 4-hourly there's a established descending parallel channel
getting escaped to the upside, maybe some more downside is possible, but only to grab liquidity further down and then move for higher prices, as this market finds a demand imbalance.