I hope you made it in the green last week.
Let’s have a look into this week upcoming fundamental news.
ECB,RBA,,FED & SNB presidents speeches may cause a lot of volatility on all major pairs this week.
Now let’s dig into supply & demand levels for this week.
EUR/USD Daily Chart:
Eur/Usd is bouncing up very well from the daily demand zone of 1.14780 – 1.15560 which was mentioned in the last 2 weeks analysis.
Next fresh supply on EUR/USD Dailly chart:
- Nothing in the coming levels.See 4h
Next fresh demand zones on EUR/USD Dailly chart:
- 1.15560 – 1.14780 (Tested once, could hold more)
- 1.12230 – 1.11730
EUR/USD 4H Chart
Next fresh supply zone on the 4h EUR/USD chart seems to be:
- 1.18280 – 1.18610
Next fresh demand zone on the 4h EUR/USD chart seems to be:
- 1.15260 – 1.14775
EUR/USD 1H Chart
Next fresh supply zone on the 1h EUR/USD chart seems to be:
- 1.18365 – 1.18610
Zone 1.16385 – 1.16935 is the 1h level we mentioned last week therefore I don’t consider it fresh anymore but since price is in our supply zone it worth looking for shorts.
Fresh 1h demand levels on on the 1h EUR/USD chart:
- 1.17600 -1.17445 tested once…would avoid it.
- 1.16780 – 1.16615
Next week fundamental news
Yellen & Draghi speech could add some volatility to the markets next week.
Eur/Usd Trade Ideas:
Eur/Usd moved fast up from a strong daily demand mentioned in the previous weeks.It left a lot of unfilled orders for long traders…A good trade would be long @~ 1.16780 – 1.16615…if price goes to the supply mentioned above before visiting the demand zone first, I would avoid longs at @1.16780 – 1.16615 zone because price may visit the source of the upmove once again (Daily Demand)