EUR/USD Supply Zone Tested, Continuation Higher
The supply zone which I marked in my last post was tested just before the market closed on Friday night, whilst a small move lower took place it was not enough to push the market back down to the lows of the move higher.
When the market opened last night a small gap higher occurred, this caused another spike into the supply zone but the resulting move down did not cause a significant price decline. At the open of the European session the market began moving higher swiftly breaking the swing high of the second move out of the supply zone, right now we are seeing more bullish movement enter the market, it’s looking likely the high of the first spike into the supply will be broken over the next couple of hours which tells us the up-wards monument is probably going to continue over tomorrow.
If the current bullish candle remains heavily bullish and the next few candles are also heavily bullish it will create a demand zone which I’ve marked in the image, this demand could provide us