Following the previous analysis, the Euro has activated Sell Short positions by reacting to the specified QM level and then decreased to the weekly demand area.
Now, considering the engulfing of the Major SR line and the formation of the FTR area, there is a possibility of a trading range between this area and the weekly demand area.
Due to the price being placed on the weekly support, if you see a valid setup, you can enter mid-term long positions.
📌 Note that the EUR/USD has broken its upward trend line in daily time frame, and if the price stabilizes below this trend line, we can witness its decline.
Now, considering the engulfing of the Major SR line and the formation of the FTR area, there is a possibility of a trading range between this area and the weekly demand area.
Due to the price being placed on the weekly support, if you see a valid setup, you can enter mid-term long positions.
📌 Note that the EUR/USD has broken its upward trend line in daily time frame, and if the price stabilizes below this trend line, we can witness its decline.
