Market found support at 1.07682 and price created a nice push until 1.09264. Since then, we can see the market retracing on lower time frames.
We are stuck between H1 supply (1.08883) and H1 demand (1.0860).
If the market removes this new demand zone on H1:
- We will revisit the new H4 demand zone at 1.0800 to find buyers again ( we need extra confirmation whether the trend will switch to buys).
If the market removes the H4 demand zone:
- We will retest the last daily demand zone ( 1.0700 - 1.0640) which aligns with the strong monthly demand zone.
If the market removes the H1 supply zone:
- We will wait to see if the market creates new H1 or H4 demand zone to have great risk management opportunities to go long, with a target around the last daily supply.
Trade safe,
AT
We are stuck between H1 supply (1.08883) and H1 demand (1.0860).
If the market removes this new demand zone on H1:
- We will revisit the new H4 demand zone at 1.0800 to find buyers again ( we need extra confirmation whether the trend will switch to buys).
If the market removes the H4 demand zone:
- We will retest the last daily demand zone ( 1.0700 - 1.0640) which aligns with the strong monthly demand zone.
If the market removes the H1 supply zone:
- We will wait to see if the market creates new H1 or H4 demand zone to have great risk management opportunities to go long, with a target around the last daily supply.
Trade safe,
AT