I hope you made it in the green last week.
In our last week analysis, a lot of levels worked very well giving us a lot of trade opportunities in lower timeframes.
Now let’s take a look at this week fundamental news.
With NZD and AUD central banks meetings, high volatility is expected on those 2 pairs.
Before we get into technical analysis and this week supply & demand levels, I want to mention this week I’ve included 1h levels as well because I got a lot of requests for that.
Also, I have cut this article into smaller pieces with navigation for each pair to make it easier to read for you J
EUR/USD Daily Chart:
Nothing much has changed on the daily scale.The levels remain the same as last week:
- 1.17535 – 1.18365.
Next fresh demand zones on EUR/USD Dailly chart:
- 1.14780 – 1.15560
- 1.11730 – 1.12230
EUR/USD 4H Chart
Next fresh supply zone on the 4h EUR/USD chart seems to be:
- 1.18000 – 1.18370
- 1.16385 – 1.16935, this a fresh level created this week
Next fresh demand zone on the 4h EUR/USD chart seems to be:
- 1.14775 – 1.15260
- 1.11730 – 1.12230 (same as the daily demand)
EUR/USD 1H Chart
Next fresh supply zone on the 1h EUR/USD chart seems to be:
- 1.17510 – 1.17860
- 1.16385 – 1.16935
2nd zone, 1.16385 – 1.16935 is a freshly created supply. However it is 60 pips wide zone, the price could react anywhere between that scale.
Next week fundamental news
Yellen & Draghi speech could add some volatility to the markets next week.
Eur/Usd Trade Ideas:
1.16385 – 1.16935 is the next best possible area to look for shorts.
The current move is a strong bear move. Therefore there is a big probability of having the demand zones on HTF visited first this week rather than the supply zones above.