EURCHF Supply & Demand June 2023
Monthly bearish
Weekly bullish pullback - weak low formed
EURO SWISSY
This pair has been on a downward spiral for over 15 years, Looking at the supply chain on the monthly chart, we have lots of buy side liquidity being built. Strong liquidity sweeps which are being heavily rejected but not holding with volume. Notice the monthly candles are not closing below signalling there is still some protection on the level to be worked on.
Weekly demand chain is forming since the last sweep, however we will need to see some more structure to confirm bullish intentions or even a reversal on the pair. Until price shows it hands for possible bullish price action, sells are preferred until we approach a big figure 0.9000
I would like to see the recent low be swept with some velocity, an aggressive sweep followed by a rejection back above the low would signal we are likely going to head back higher. More price action required.
Weekly bullish pullback - weak low formed
EURO SWISSY
This pair has been on a downward spiral for over 15 years, Looking at the supply chain on the monthly chart, we have lots of buy side liquidity being built. Strong liquidity sweeps which are being heavily rejected but not holding with volume. Notice the monthly candles are not closing below signalling there is still some protection on the level to be worked on.
Weekly demand chain is forming since the last sweep, however we will need to see some more structure to confirm bullish intentions or even a reversal on the pair. Until price shows it hands for possible bullish price action, sells are preferred until we approach a big figure 0.9000
I would like to see the recent low be swept with some velocity, an aggressive sweep followed by a rejection back above the low would signal we are likely going to head back higher. More price action required.
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