EURUSD Weekly Overview: Despite being on annual leave this week, we wanted to provide you with an overview of a couple of pairs, starting with EURUSD.
Currently, the price is situated within a 15-minute range towards the upside, indicating an overall expectation of a bullish shift from the point of interest (POI) highlighted below the price. It's important to note that this range alone does not solely determine our direction. Additionally, we have observed a 5-minute order flow leading to a bearish bias if we experience a pullback to the POI shown above the price before tapping into our lower POI.
While we acknowledge the potential for price to touch both zones and react accordingly, we would prefer to see a clear touch of our higher zone first. However, as always, we will adapt and make the most of the market conditions presented to us.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!