AlfonsoMoreno
Short

EURUSD Forex cross pair supply and demand technical analysis

OANDA:EURUSD   Euro / U.S. Dollar
EURUSD Forex cross pair supply and demand technical analysis is telling us that only shorts are allowed at new supply zones. The weekly timeframe is in a clear downtrend with new weekly supply imbalances being created and respected and demand imbalances eliminated.

There is a lot of room for price to keep on dropping further on the weekly and monthly timeframes, room to reach a very strong monthly demand level near EURUSD forex cross pair parity level.In the meantime the Dollar Index DXY is reacting to a weekly demand level as well with room to keep on rallying. Both EURUSD Forex cross pair and the Dollar Index DXY are highly correlated.
Cool short view and good trendline.
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