In this analysis of the EURUSD on the 1-hour timeframe, I'm observing how the price behaves around the 1.08500 supply zone. My intention is to confirm a potential short-term selling opportunity as a countertrend move towards the next demand zone at 1.07838. Once this short-term move plays out, I'll be looking for confirmation on a possible long position from that demand zone. It's important to note that the market operates in a fractal nature, meaning that we can only anticipate the next moves as they unfold. Therefore, we'll need to monitor the situation closely to see how it develops.
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I got an early entry for EURUSD right here, let's see how this plays out.
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My initial analysis went south. I am happy I learnt from it. Now here, my 1.08505 zone got violated and 1.08619 zone tends to react nicely. What do you see?