EUR/USD 1H - This is my current outlook on this market, I believe price will continue to put in this bullishness to conclude this correction in or around the Supply zone I have highlighted out above.
As you can see price is trading us lower with clear bearish structure, we have the production of Lower Highs and Lower Lows and I believe this will continue till we have the penetration of the higher timeframe Demand zone.
Until then I am expecting price to trade us up and into this Supply zone in order to grab more Supply so we can see price take its next leg taking us lower into this market. Before entering I will want to see a BOS present itself.
A BOS will be the confirmation we need, for us to know that the trend taking us into the zone has finished and the next bearish leg taking us lower is ready to be put in. We can look to go long before going short we just need the confirmation to enter.
As you can see price is trading us lower with clear bearish structure, we have the production of Lower Highs and Lower Lows and I believe this will continue till we have the penetration of the higher timeframe Demand zone.
Until then I am expecting price to trade us up and into this Supply zone in order to grab more Supply so we can see price take its next leg taking us lower into this market. Before entering I will want to see a BOS present itself.
A BOS will be the confirmation we need, for us to know that the trend taking us into the zone has finished and the next bearish leg taking us lower is ready to be put in. We can look to go long before going short we just need the confirmation to enter.