EUR/USD: Interesting bearish responsive movement !

Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the asset, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.

Monthly timeframe:

Weekly timeframe:

Daily timeframe:

4 hours timeframe:

The market has been moving in a range for a while, after a really strong daily movement to the downside.
The price is currently reaching an interesting demand zone that rejected it few times during the last days.
It’s hard to say if the market will be able to break this area, considering that is a monthly key level.

When, where and why would I step into the market?
Right now, I’m not planning any trade on this market, there is so much equilibrium and strong response form both the side.
However, considering this market still in downtrend, I will keep a bearish perspective.
The demand zone will definitely push back the price inside the fair value area, so the next price action will give us more clues about the next movement!

If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!

Trade safe and responsibly,
Gianni

DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose