Here are the supply & demand levels for this week
Let’s dig into supply & demand levels for this week.
EUR/USD Daily Chart:
EUR/USD 4H Chart
EUR/USD 1H Chart
Euro/Usd is giving us some reaction from the daily supply (6) mentioned over the past few weeks.
Although we’re into a daily supply, the selling pressure isn’t as high as expected.
Last week I pointed out a supply level (1) which is holding price down but at the same time, the demand level is holding price up (2). None of them is broken yet.
There are still few levels in between this range to be tested. 3 & 4.
Unless Eur/Usd makes a good LL on daily I wouldn’t expect any change on current trend.
Also, as pointed out at #6 there is a good probability for Eur/Usd to fake out into that level before making any further retrace down.