Upon analyzing the EURUSD chart, I have determined that there is a potential for an 11% downturn from the current price of 1.10956 to 0.98447. The recent downtrend was attributed to complications from the ongoing war and economic issues globally. While the market has recently exhibited a bullish phase, I remain skeptical about its stability. It seems to be a relief market phase, as war tensions are easing off and economic factors are returning to their previous states.
After the Change of character that occurred, the EURUSD rose by approximately 8.71%, which created several inefficiencies and imbalances in price along the way. Additionally, the incline was steep and unhealthy. Through my analysis of supply in the area, I have identified potential points of interest that correlate with economic factors. A supply at the level of 1.10949 was resilient enough to maintain the composure of the price and reverse the momentum's effect. Expecting a ChoCh on the LTF to form and allow the price to start a pullback phase
As an expert in this field, I can confirm that the economy does not have the capability of exhibiting such price action. The logic behind price action rules and basic market structure suggests that the only possible scenario is an 11% downturn. Moreover, there is an inefficiency of a 3% candle that weighs down on the bullish incline, preventing it from gaining further momentum.
Despite these challenges, there is still hope for the EURUSD to recover. The demand at the extremities of the recent low is sturdy enough to lessen the effect and momentum of the current decline and fuel its liquidity enough for the price to launch for a higher high. However its important to note that, the EURUSD cannot break beyond the previous low to maintain the bullish market phase and obey the basic fundamental rules of market structure and price action.
Once the 11% downturn is complete, we can aim for higher highs and conquer the 1.15 level as the next target. Overall, my analysis reveals that the current bullish market phase can be unstable, and a significant downturn is imminent.
—Your Economist,Mahdi Kheirddine
After the Change of character that occurred, the EURUSD rose by approximately 8.71%, which created several inefficiencies and imbalances in price along the way. Additionally, the incline was steep and unhealthy. Through my analysis of supply in the area, I have identified potential points of interest that correlate with economic factors. A supply at the level of 1.10949 was resilient enough to maintain the composure of the price and reverse the momentum's effect. Expecting a ChoCh on the LTF to form and allow the price to start a pullback phase
As an expert in this field, I can confirm that the economy does not have the capability of exhibiting such price action. The logic behind price action rules and basic market structure suggests that the only possible scenario is an 11% downturn. Moreover, there is an inefficiency of a 3% candle that weighs down on the bullish incline, preventing it from gaining further momentum.
Despite these challenges, there is still hope for the EURUSD to recover. The demand at the extremities of the recent low is sturdy enough to lessen the effect and momentum of the current decline and fuel its liquidity enough for the price to launch for a higher high. However its important to note that, the EURUSD cannot break beyond the previous low to maintain the bullish market phase and obey the basic fundamental rules of market structure and price action.
Once the 11% downturn is complete, we can aim for higher highs and conquer the 1.15 level as the next target. Overall, my analysis reveals that the current bullish market phase can be unstable, and a significant downturn is imminent.
—Your Economist,Mahdi Kheirddine
Comment:
An update on the analysis reveals that there has been an impressive reaction in the supply zone, indicating a strong and healthy price action. The movement is consistent with the expected logic as well as my prior statements, confirming the accuracy of the analysis. The confirmation of the exit of the area of confluence with the prior supply zone would be observed through a candle closing below 1.09537.
Comment:
The Euro's recent price action has exhibited a significant shift in market dynamics. The Supply's Area of Confluence has been breached, indicating a change in character and signaling the start of a pullback phase on the weekly chart. The momentum has gained traction, resulting in a notable downturn for the Euro. These developments provide valuable insights into the current market conditions and highlight the importance of monitoring these changes closely. This is just the beginning of a bigger disaster The current situation is only the tip of the iceberg for a more substantial disaster.
Trade active:
Following the success of my analysis and accurate prediction of a significant turning point during a highly momentous and liquid rally... I am now detecting early indications of a partial minor pullback on the lower timeframes (LTF). This pullback is expected to amplify the bearish liquidity, enhancing efficiency and strengthening the upcoming bearish legs.