EU Market Comment
This is how I see it. If you look at the images, it's obvious that volume is increasing once price crosses 1.3025. This could mean that MMs are stopping the drop for now or they are switching to bulls. Looking other timeframes like 15m or 1H it looks more like the first option, just stopping the drop. However, it's also obvious that price needs to close with a daily candle below 1.30 to resume the sell off. Right now we are just consolidating.
So, from my point of view (I'm not saying that I'm right. I could be wrong ofc) we could see EU going again to the 1.305-1.31 zone. If I am right and they are bears but stopping the drop, they will use late US session and off hours time to hike the price adding more shorts there. For me it's cool, bigger the consolidation, bigger the markdown.
Repeat, this is only my opinion. Trade only what you see.
Best, Tymedu.
This is how I see it. If you look at the images, it's obvious that volume is increasing once price crosses 1.3025. This could mean that MMs are stopping the drop for now or they are switching to bulls. Looking other timeframes like 15m or 1H it looks more like the first option, just stopping the drop. However, it's also obvious that price needs to close with a daily candle below 1.30 to resume the sell off. Right now we are just consolidating.
So, from my point of view (I'm not saying that I'm right. I could be wrong ofc) we could see EU going again to the 1.305-1.31 zone. If I am right and they are bears but stopping the drop, they will use late US session and off hours time to hike the price adding more shorts there. For me it's cool, bigger the consolidation, bigger the markdown.
Repeat, this is only my opinion. Trade only what you see.
Best, Tymedu.
To fail is just an opportunity to learn