EURUSD idea
we had cpi news and jobless claims this week both confirming a shrinking economy and so the dollar had come down bringing the EU pair up. i expect this to continue next week.
after the big push on tuesday we created relative equal lows on wednesday and Thursday which we then swept on friday at the begin of london session and kept rallying up.
i dont expect price to come down and fill any of the daily imbalance left, but if it was to my zones are the 8000 area where we left a little m15 demand, this would be the aggressive zone, and around the 7600 area which would close htf structure and make price bounce back up most probably. but like i said i dont expect price to come here in the near future.
what i expect to happen is to retrace somewhere around the 8800 area, maybe with some liquidity created in asia session just above the zone, a nice sweep retracing into the zone, closing h4 structure, testing the last demand zone that broke structure, and bouncing from there, with upside targets daily and weekly liquidity marked by the red lines, both near the 9500 key level, and ambitious target would be the supply zone with daily liquidity and 1000 key level. this is the most probable scenario in my opinion.
we have more red folder news this week, not as important as cpi and unemployment data but still impactful, and should they be more negative than the expectations we should continue to see the dollar dropping and the EU pair rally up.
wish everyone a great week!!!
after the big push on tuesday we created relative equal lows on wednesday and Thursday which we then swept on friday at the begin of london session and kept rallying up.
i dont expect price to come down and fill any of the daily imbalance left, but if it was to my zones are the 8000 area where we left a little m15 demand, this would be the aggressive zone, and around the 7600 area which would close htf structure and make price bounce back up most probably. but like i said i dont expect price to come here in the near future.
what i expect to happen is to retrace somewhere around the 8800 area, maybe with some liquidity created in asia session just above the zone, a nice sweep retracing into the zone, closing h4 structure, testing the last demand zone that broke structure, and bouncing from there, with upside targets daily and weekly liquidity marked by the red lines, both near the 9500 key level, and ambitious target would be the supply zone with daily liquidity and 1000 key level. this is the most probable scenario in my opinion.
we have more red folder news this week, not as important as cpi and unemployment data but still impactful, and should they be more negative than the expectations we should continue to see the dollar dropping and the EU pair rally up.
wish everyone a great week!!!
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