EUR/USD Shorts from 1.08600 back down.

OANDA:EURUSD   Euro / U.S. Dollar
This week's forecast for EU is looking very promising for sells. I hope for price to break the current supply zone, although we might see a reaction from it before price reaches the daily supply zone above. This upper zone is a more valid level for taking sells.

If Monday opens with a sweep of the Asia high and a clear CHOCH, I might consider imminent sells from the current zone, but with lower risk as the POI is not ideal. From there, I expect price to drop into a demand zone, where I can look for new buying opportunities.

Confluences for EU Sells:

Price is in a supply zone and showing weakness in bullish pressure.

There is a daily supply zone above that holds good validity.

DXY is also in a demand zone, aligning with the negative correlation.

There is lots of liquidity and imbalance below, drawing price downward.

P.S. If price respects a nearby demand and breaks both supply zones, it will confirm a bullish bias, and I will start looking for buys.


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