EUR/USD Shorts from 1.05200 or 1.05800 back down
I expect price to continue its bearish trend, providing potential shorting opportunities. My focus is on the supply zones I’ve marked at the 19-hour and 17-hour timeframes. I’ll wait for price to reach one of these zones and observe if it respects these structural points.
If price breaks above these zones, it would indicate a shift in market sentiment to the upside. However, as long as these zones hold, they remain valid levels for the trend to continue.
Confluences for EU Sells:
- Price has broken structure to the downside, leaving a clean supply zone.
- A corrective move has formed, likely preceding a continuation of the bearish trend.
- Significant liquidity resides below, presenting clear downside targets.
- Overall market structure remains bearish, making this a pro-trend trade idea.
- DXY shows strong bullish momentum, supporting the bearish outlook for EU.
P.S. If price breaks structure further to the downside without tapping into my zones, I’ll wait for a new supply zone to form after the next structural break. Have a great trading week, everyone!
If price breaks above these zones, it would indicate a shift in market sentiment to the upside. However, as long as these zones hold, they remain valid levels for the trend to continue.
Confluences for EU Sells:
- Price has broken structure to the downside, leaving a clean supply zone.
- A corrective move has formed, likely preceding a continuation of the bearish trend.
- Significant liquidity resides below, presenting clear downside targets.
- Overall market structure remains bearish, making this a pro-trend trade idea.
- DXY shows strong bullish momentum, supporting the bearish outlook for EU.
P.S. If price breaks structure further to the downside without tapping into my zones, I’ll wait for a new supply zone to form after the next structural break. Have a great trading week, everyone!
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