EUR/USD Short ideas from 1.08900 back down
My analysis for EUR/USD aligns with my outlook on other major pairs against the dollar, focusing on sell opportunities. The continued break of structure to the downside has left a promising 14-hour supply zone that looks ideal for short positions.
Within this zone, we might see a deeper mitigation of around 50%, making it easier to identify the UTAD (upthrust after distribution). Once the price forms a Wyckoff distribution on the lower time frame, I will look for a precise entry point.
Confluences for EU Shorts are as follows:
- Price currently formulating lower lows and lower highs.
- Supply zone on the 14hr that has caused a break of structure to the downside.
- Lots of liquidity to the downside in the form trend line and Asia lows.
- DXY (DOLLAR) is also bullish on the higher time so overall this is a PRO trend trade idea.
P.S. If the price continues to break down, I will be looking out for new supply zones until the price approaches the 23-hour demand zone, where short-term buys may become viable.
Remember NFP Friday this week so stay vigilant!
Within this zone, we might see a deeper mitigation of around 50%, making it easier to identify the UTAD (upthrust after distribution). Once the price forms a Wyckoff distribution on the lower time frame, I will look for a precise entry point.
Confluences for EU Shorts are as follows:
- Price currently formulating lower lows and lower highs.
- Supply zone on the 14hr that has caused a break of structure to the downside.
- Lots of liquidity to the downside in the form trend line and Asia lows.
- DXY (DOLLAR) is also bullish on the higher time so overall this is a PRO trend trade idea.
P.S. If the price continues to break down, I will be looking out for new supply zones until the price approaches the 23-hour demand zone, where short-term buys may become viable.
Remember NFP Friday this week so stay vigilant!
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