EUR/USD Daily Swing Chart Analysis

The target for the recent daily swing in EUR/USD appears to be the weekly order block. During the previous attempt to reach this block on April 16th, the price failed to penetrate the body of the weekly block. This likely resulted in insufficient activation of buy orders. Consequently, the high of June 3rd was unable to surpass previous swings, leading to a price retracement.

Given this, I anticipate that the price may penetrate the weekly block or even drop lower to gather the necessary liquidity. On the daily chart for the USD, there is no divergence with the Euro, indicating no imminent reversal. The significant liquidity remains above the daily highs, suggesting that the price will aim to reach these levels.

snapshot
In the weekly timeframe for the Euro, we observe a change in structure accompanied by a Fair Value Gap (FVG), indicating a strong movement. The target could be the monthly block at a minimum. Therefore, caution is advised on lower timeframes for the Euro, as a strong reversal to capture higher liquidity may soon commence.

Feel free to share your thoughts and comments below. I'd be happy to hear your perspectives and engage in a discussion on this analysis!
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