For downmove Price took out the old pre-brexit high (23-06) We're at a massive bearish orderblock (purple area) Reached 61,8% retracement and almost had a 70.5% Optimal Trade Entry (ICT) The above three points define the Turtle Soup (street smarts) making a downmove probable however For upmove We also reached an old (smaller) post-brexit...
I'm curious to test my knowledge of orderblocks once more, it should not hurt to fail. EURUSD has been bearish for a long time, this last move up was rather sharp. The lower timeframe shows multiple stabs into the ICT bearish orderblock shown here. Lower targets are medium term so, we're talking weeks from now. We'll reach for liquidity underneath the swing...
If that next order block doesn't hold The Dollar looks likes it could be pushing for another leg up, reaching for liquidity just above 96.40 if it gets there. Could be looking at some divergence on the way up. Waiting for the Sell signal. Also, if you notice the times of all the arrows, do not think that is just coincidence do you? Institutional Order programs...
Both the Dollar and the Euro are resting on orderblocks. The Dollar block is a strong support line that it has already bounced off in the past. The Euro bear block is the recent high from a few months ago and has bounced off it before.