Summary :
Price trading lower and then finding a consolidation, Bearish BMS on a larger daily swing, and recent liquidity run on short term swing low. Overall the price is consolidating on a intermediate range, to find it ways to bearish scenario, remembering the 10 Year T-NOTE analysis that I posted earlier that indicates bullishness for dollar for a intermediate terms (daily), there's possibility that the price only retrace higher to create a weekly high today, for creating momentum to go lower targeting, Swing Low (y). But there's also possibility for its to trade higher targeting Swing high (x).
Confluence :
- US 10Y T-NOTE bias = Bullish for USD Bearish for EUR for an intermediate terms.
- ICT Power 3 Bearish Week, creating High of the week this day or tomorrow
-10&20 EMA (DAILY) = CONSOLIDATING, SLIGHTLY BEARISH
- BEARISH BMS ON A LARGER SWING = WE EXPECT BEARISH FOR A INTERMEDIATE-LONG TERMS.
- OLD INTERMEDIATE HIGH RUN + STOP HUNT = EXPECT BEARISH FOR INTERMEDIATE TERMS
- MOST RECENT LIQUIDITY RUN ON SHORT TERM SWING LOW + STOP HUNT (SH), so we expect bullishness for a short term or retracement higher
Conclusion :
-Trend = consolidating for a bearish continuation
-Bias = Bullish to find a retracement to trade lower (bulllish), so for today I expecting a long high wick or low range bearish body, and bearish continuation.
-Entry = at 4h-OB Area, after EUR PMI NEWS, or tomorrow New York Open
-Target = Old Low (Y), possible outcome it will trade higher targeting (X) and then reverse lower targeting (Y)
-Probability = MEDIUM
Suggestions :
-Find another confluence, in the smaller time frame, creating a BMS, OB, on entry time frame at the New York Opening
Price trading lower and then finding a consolidation, Bearish BMS on a larger daily swing, and recent liquidity run on short term swing low. Overall the price is consolidating on a intermediate range, to find it ways to bearish scenario, remembering the 10 Year T-NOTE analysis that I posted earlier that indicates bullishness for dollar for a intermediate terms (daily), there's possibility that the price only retrace higher to create a weekly high today, for creating momentum to go lower targeting, Swing Low (y). But there's also possibility for its to trade higher targeting Swing high (x).
Confluence :
- US 10Y T-NOTE bias = Bullish for USD Bearish for EUR for an intermediate terms.
- ICT Power 3 Bearish Week, creating High of the week this day or tomorrow
-10&20 EMA (DAILY) = CONSOLIDATING, SLIGHTLY BEARISH
- BEARISH BMS ON A LARGER SWING = WE EXPECT BEARISH FOR A INTERMEDIATE-LONG TERMS.
- OLD INTERMEDIATE HIGH RUN + STOP HUNT = EXPECT BEARISH FOR INTERMEDIATE TERMS
- MOST RECENT LIQUIDITY RUN ON SHORT TERM SWING LOW + STOP HUNT (SH), so we expect bullishness for a short term or retracement higher
Conclusion :
-Trend = consolidating for a bearish continuation
-Bias = Bullish to find a retracement to trade lower (bulllish), so for today I expecting a long high wick or low range bearish body, and bearish continuation.
-Entry = at 4h-OB Area, after EUR PMI NEWS, or tomorrow New York Open
-Target = Old Low (Y), possible outcome it will trade higher targeting (X) and then reverse lower targeting (Y)
-Probability = MEDIUM
Suggestions :
-Find another confluence, in the smaller time frame, creating a BMS, OB, on entry time frame at the New York Opening