EUR/USD Shorts from 1.09600 back down

10월 13일

This week’s EUR/USD (EU) outlook is quite similar to my GU analysis, with the market continuing its bearish trend. I’ll be waiting for price to retrace back to the 16-hour supply zone, where I’ll look for entry opportunities on the lower time frames.

My target will be around the demand zone I've marked, which is near some liquidity. Depending on the confluences, I may consider a temporary counter-trend buy, but we’ll see which point of interest (POI) price reacts to first.

Confluences for EU Sells:

Structure Break: Price has broken to the downside, leaving a clear supply zone.

Bearish Market Structure: Overall market structure remains bearish, supporting this pro-trend idea.

Bullish DXY: The dollar (DXY) is gaining strength again, increasing the likelihood of stronger bearish pressure on EU.

Liquidity: Significant downside liquidity in the form of swing lows and engineered liquidity.

P.S. If price breaks through my supply zone and fills the imbalance above, I’ll shift my focus to the 15-hour supply zone to evaluate further sell opportunities.