I'd like to share my bearish stance on the EUR/USD pair, accompanied by my identified key supply and demand levels from weekly chart. My analysis suggests a downward movement.
It's crucial not to solely rely on my perspective; rather, consider the broader market dynamics. Currently, I perceive us to be in the middle of a range with a low-probability entry zone. Daily charts reveal price action stopping out at both highs and lows.
While I maintain a bearish sentiment, it's worth noting that my existing trade has already secured profits. As of now, I would exercise caution before initiating new positions on the EUR/USD. This is more of a heads up than a directive. Peace and happy trading!
Best regards.
It's crucial not to solely rely on my perspective; rather, consider the broader market dynamics. Currently, I perceive us to be in the middle of a range with a low-probability entry zone. Daily charts reveal price action stopping out at both highs and lows.
While I maintain a bearish sentiment, it's worth noting that my existing trade has already secured profits. As of now, I would exercise caution before initiating new positions on the EUR/USD. This is more of a heads up than a directive. Peace and happy trading!
Best regards.
Daniel P. Fadejev