EU - Monthly Timeframe Analysis (ICT)

10 сент. 2023 г.

EURUSD is clearly heading lower on the Monthly chart. There was a sharp rejection at the large NWOG above, after taking out a Monthly High, and the Monthly candle failed to close above the previous Month's highs.

Now we have displaced towards the low of the recent intermediate Monthly Low. I don't see us heading to new highs from here, and at the very most a manipulative expansion to the upside to shake out short sellers.

We are likely heading towards the Monthly Bisi at the very least in my opinion at face value. See my DXY analysis for more correlation and context.