EURUSD 3/11/24
This week, our bias on the Euro has shifted from short to long. This change is based on observing a shift in the higher time frame structure, as institutions appear to be showing interest in buying. Whether this move will be short-term or long-term remains to be seen. We’ll watch the price action in the first sessions of the week to get a clearer idea.
Please note, this analysis follows the same principles and bias approach as always. Currently, there are no unmitigated demand areas on the 4-hour chart, and only a short-term supply area has formed. The area of demand we’ve highlighted is present only on the 1-hour chart, making it more of a smaller time frame reference than a higher one. We’ve marked key liquidity levels, which will serve as our reference points for potential upward movement this week.
If the price interacts with the 1-hour demand area, we’ll aim for the high at the top of the current range. While I’m ultimately looking for a longer-term upward move, a pullback beforehand is possible.
Stick to your plan and manage your risk.
Please note, this analysis follows the same principles and bias approach as always. Currently, there are no unmitigated demand areas on the 4-hour chart, and only a short-term supply area has formed. The area of demand we’ve highlighted is present only on the 1-hour chart, making it more of a smaller time frame reference than a higher one. We’ve marked key liquidity levels, which will serve as our reference points for potential upward movement this week.
If the price interacts with the 1-hour demand area, we’ll aim for the high at the top of the current range. While I’m ultimately looking for a longer-term upward move, a pullback beforehand is possible.
Stick to your plan and manage your risk.
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