EURUSDAs you can see, EUR/USD is just trading within a 4H wick in a demand zone. It has formed a new trading range and its own buy zone. While the price appears to be approaching aggressively, the bearish volume on the approach is actually decreasing. This could indicate a lack of bearish pressure.
With DXY being bearish (check my thoughts on DXY), this trade makes sense. However, if entering immediately—especially in a week full of fundamental news—you should be cautious with your risk management and trade execution.
Let’s wait and see what happens. I will definitely check the 15-minute time frame to confirm long entries. But for now longs with low risk are in play as my limit was trigered and it seems reasonable from a technical perspective.
Blessings,
T
