Mid-Term EUR/USD Supply and Demand Analysis for the Coming Week
Hello fellow traders,
Take a look at the Daily chart!
While the bullish momentum encountered resistance around a robust zone, there's an intriguing tug-of-war with the bulls demonstrating resilience.
Introduction:
This analysis delves into the mid-term outlook for EUR/USD, navigating through the intricacies of supply and demand dynamics. Stay alert for intraday updates throughout the week, and be prepared for potential market responses to the upcoming USA Gross Domestic Product (GDP) release on Thursday.
Technical Analysis:
Supply and Demand Levels:
Distilled key supply and demand zones for strategic entry and exit points.
Notable supply zone: Above 1.07725
Dynamic demand zone: Spanning 1.07450 to 1.07125
Trade Setup:
Entry:
Explore a long position between 1.07725 and 1.07450, encapsulating the resilient demand zone.
Stop-Loss (SL):
Safeguard the position with a stop-loss strategically below the demand zone, residing beneath 1.07125.
Take Profit (TP):
A phased approach to taking profits, commencing between 1.09250 and 1.09875, mindful of potential resistance.
Note on Short Position:
While taking a short position is possible, it comes with heightened risk, given the prevailing demand zone. Consider shorting cautiously, aware of potential challenges reaching the aim of the zone.
Fundamental Consideration:
Exercise caution in light of the impending USA Gross Domestic Product (GDP) release on Thursday. Expect possible impacts on the currency market, necessitating adjustments in positions.
Risk Management:
Calibrate position sizes based on individual risk tolerance and uphold a favorable risk-reward ratio.
Keep an eye on the economic calendar for additional fundamental events with the potential to sway the trade.
Intraday Updates:
Stay tuned for real-time intraday updates, shaping the analysis in response to dynamic market conditions.
Take a look at the Daily chart!
While the bullish momentum encountered resistance around a robust zone, there's an intriguing tug-of-war with the bulls demonstrating resilience.
Introduction:
This analysis delves into the mid-term outlook for EUR/USD, navigating through the intricacies of supply and demand dynamics. Stay alert for intraday updates throughout the week, and be prepared for potential market responses to the upcoming USA Gross Domestic Product (GDP) release on Thursday.
Technical Analysis:
Supply and Demand Levels:
Distilled key supply and demand zones for strategic entry and exit points.
Notable supply zone: Above 1.07725
Dynamic demand zone: Spanning 1.07450 to 1.07125
Trade Setup:
Entry:
Explore a long position between 1.07725 and 1.07450, encapsulating the resilient demand zone.
Stop-Loss (SL):
Safeguard the position with a stop-loss strategically below the demand zone, residing beneath 1.07125.
Take Profit (TP):
A phased approach to taking profits, commencing between 1.09250 and 1.09875, mindful of potential resistance.
Note on Short Position:
While taking a short position is possible, it comes with heightened risk, given the prevailing demand zone. Consider shorting cautiously, aware of potential challenges reaching the aim of the zone.
Fundamental Consideration:
Exercise caution in light of the impending USA Gross Domestic Product (GDP) release on Thursday. Expect possible impacts on the currency market, necessitating adjustments in positions.
Risk Management:
Calibrate position sizes based on individual risk tolerance and uphold a favorable risk-reward ratio.
Keep an eye on the economic calendar for additional fundamental events with the potential to sway the trade.
Intraday Updates:
Stay tuned for real-time intraday updates, shaping the analysis in response to dynamic market conditions.
