EURO - Weekly First Mover ?

A further dig into Sellside liquidity is what we saw last week before closing above the weekly fair value gap, completing a 6-week consecutive run. With that being said, I was expecting a further decline last week with the opportunity for the prior weeks low to be swept @ 1.07227 which we witnessed.

This current weeks trading, I was expecting a sell-off into the depths of the EURUSD abyss but instead, from Monday going into Wednesday, we have seen a bullish price action, with Tuesdays daily candle closing in a premium whilst GBPUSD is still in a discount.

Whilst analysing EURUSD I understood that some of the risks I was taking with my bearish bias is the fact that we have been bearish for an extended period of time + EURUSD hammered into the weekly FVG without closing underneath it + new intra-day lows was created. So I am keeping my eyes peeled @ the 1.08310 upper daily displacement FVG as if I see a daily candle body closure above that region, the probability for 1.07617 Sellside to be taken this week would be slim.

Will EURUSD faulter and drop back into a discount whilst GBPUSD front runs the market or do we get GBPUSD lagging behind with bullish buy stops next in line?

My philosophy is simple...

Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.

This includes;

- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!

The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.

Credits;

- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN

Kommentera:

From the beginning of this week, I was expecting a further decline in EURUSD whilst the DXY run on buy stops but what we got was a bullish retracement in EURUSD and bullish retracement in DXY which is not the type of correlation I want to see.

However, it does mean that if DXY is to continue running on short-term buy stops, that would apply much more short pressure on EURUSD , causing price action to trade back in a discount and potentially test this weeks open @ 1.07778