Quick Summary
EURUSD left trendline liquidity during the early week selloff, Price is expected to first target the low at 1.16580
After that a move higher toward an orderflow zone is possible
From that area continuation to the downside will be considered only with a clear reversal signal
Full Analysis
During the strong bearish move at the beginning of the week EURUSD left behind clear trendline liquidity
This type of liquidity is often revisited later as price seeks to rebalance and collect resting orders
Before any move higher price is expected to continue its decline and target the low at 1.16580
This level represents a logical downside objective and a liquidity area that has not yet been fully addressed
Once that low is swept EURUSD may start moving higher to sweep the trendline liquidity
This upward move is expected to lead price into an orderflow zone.
From that area I will look closely at price behavior If a clear reversal signal appears inside the orderflow zone I will look to rejoin the bearish move
Without a strong reversal signal there will be no sell entry as confirmation remains essential
EURUSD left trendline liquidity during the early week selloff, Price is expected to first target the low at 1.16580
After that a move higher toward an orderflow zone is possible
From that area continuation to the downside will be considered only with a clear reversal signal
Full Analysis
During the strong bearish move at the beginning of the week EURUSD left behind clear trendline liquidity
This type of liquidity is often revisited later as price seeks to rebalance and collect resting orders
Before any move higher price is expected to continue its decline and target the low at 1.16580
This level represents a logical downside objective and a liquidity area that has not yet been fully addressed
Once that low is swept EURUSD may start moving higher to sweep the trendline liquidity
This upward move is expected to lead price into an orderflow zone.
From that area I will look closely at price behavior If a clear reversal signal appears inside the orderflow zone I will look to rejoin the bearish move
Without a strong reversal signal there will be no sell entry as confirmation remains essential
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.