This is EUR/USD 1D timeframe
In this analysis, you will see a detailed breakdown of this pair and my forecast
IMPORTANT
-It is very important that you read every part of the PA, so that you can better understand the PA and the language of the market. We will start with a detailed breakdown from left to right
Chart recap
1. Here we can see that the price is in a long downtrend, after the reaction from the first supply zone , we see a nice bearish momentum.
2. After the impulsive BOS price leaves wicks, when we see wicks, it tells us that the price has no more momentum, but in this situation, the wicks are respected because the price went correctively towards the supply zone .
3. After a long downtrend, the price finally breaks the supply zone , here we see a change of character and bullish momentum.
4. When the price makes an impulsive change of character where we see momentum is present, we can expect a change in trend.
5. In the end, the price left wicks, which tells us that the price has no more momentum.
Forecast
1. We see a nice change of character after a long downtrend, and here we expect a change in trend
2. The price has left wicks that tell us that the price has no more momentum
3. If we see an impulsive breakout and another momentum towards the uptrend, we will have an opportunity for continuation, and we can expect a pullback to our new demand zone .
That's all about this analysis, if you have any additional questions, leave a comment down below.
In this analysis, you will see a detailed breakdown of this pair and my forecast
IMPORTANT
-It is very important that you read every part of the PA, so that you can better understand the PA and the language of the market. We will start with a detailed breakdown from left to right
Chart recap
1. Here we can see that the price is in a long downtrend, after the reaction from the first supply zone , we see a nice bearish momentum.
2. After the impulsive BOS price leaves wicks, when we see wicks, it tells us that the price has no more momentum, but in this situation, the wicks are respected because the price went correctively towards the supply zone .
3. After a long downtrend, the price finally breaks the supply zone , here we see a change of character and bullish momentum.
4. When the price makes an impulsive change of character where we see momentum is present, we can expect a change in trend.
5. In the end, the price left wicks, which tells us that the price has no more momentum.
Forecast
1. We see a nice change of character after a long downtrend, and here we expect a change in trend
2. The price has left wicks that tell us that the price has no more momentum
3. If we see an impulsive breakout and another momentum towards the uptrend, we will have an opportunity for continuation, and we can expect a pullback to our new demand zone .
That's all about this analysis, if you have any additional questions, leave a comment down below.