EURUSD Hourly Follow-Up

In last week’s post about EURUSD, I wrote that you should look for shorts in a rally to the 1.11 level, as the downtrend didn’t seem yet finished. Prices got halfway there, with the volumes showed lack of demand near that temporary top.


Dynamic trend: Turned up

Background: W1 – weak; D1 – weak

Phase: Markdown


EURUSD H1 Sideways Range


In point 1 there was “Stopping volume” with a wide range and with a very high volume (the highest in the last 166 bars, since the beginning of a downtrend). Taking into account the previous price movement, this volume is likely to be insufficient for a full trend reversal, though we can’t exclude a short-term uptrend.


Suggested Strategies

Consider selling if the price breaks down the level 1.0962 and «No Demand» appears (up-bar with a narrow range and a low volume). Also consider buying if the price breaks-out the level 1.1 and «No Supply» appears (down-bar with a narrow range and a low volume).

You can search for «No Demand» and «No Supply» on the lower TF.


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