EURUSD Macro Sells Possible
Alright so it's been a literal while since I've analyzed anything other than gold and or maybe BTC. But neither of them have any opportunity currently so I am taking a look at a few other assets to see if there is anything interesting.
On EURUSD, we can see here what appears to be price stumbling at a level in which price has bought multiple times in the past and what I find really interesting about this level is the fact that price is bullish.
EURUSD is an overall bullish market so the fact that it is selling suggests that price needs to grab liquidity from the downside. But why? What is down there that price needs so badly?
Well, Think about it. Buyers place stop losses where exactly? At the lows right?
Yeah when you look at it on the weekly timeframe in my opinion it becomes even more clear - price needs to go lower to clear out buyers stops.
BUT
This then means that price needs to sell right? And we can only truly sell when price is bearish enough to do so right?
Well here seems to be very bearish, but I'd admit that I feel like I am drawing at straws here in hopes that it breaks this time, I'd be honest I am not hopeful that it will lol
That being said, what I think is possible for EU is that it will continue to stumble about this level for a while, maybe even go higher, before truly attempting to drop.
As much as I wish to find something here, I don't think there is anything.
The most I can say is maybe more sustained sells (very short term) until price leaves this orange zone
I'd be careful with this one
On EURUSD, we can see here what appears to be price stumbling at a level in which price has bought multiple times in the past and what I find really interesting about this level is the fact that price is bullish.
EURUSD is an overall bullish market so the fact that it is selling suggests that price needs to grab liquidity from the downside. But why? What is down there that price needs so badly?
Well, Think about it. Buyers place stop losses where exactly? At the lows right?
Yeah when you look at it on the weekly timeframe in my opinion it becomes even more clear - price needs to go lower to clear out buyers stops.
BUT
This then means that price needs to sell right? And we can only truly sell when price is bearish enough to do so right?
Well here seems to be very bearish, but I'd admit that I feel like I am drawing at straws here in hopes that it breaks this time, I'd be honest I am not hopeful that it will lol
That being said, what I think is possible for EU is that it will continue to stumble about this level for a while, maybe even go higher, before truly attempting to drop.
As much as I wish to find something here, I don't think there is anything.
The most I can say is maybe more sustained sells (very short term) until price leaves this orange zone
I'd be careful with this one
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