DislikedHi gspajon; Do you take Zones of Supply/Demand into account? EUR/USD has been moving between a Zone of Supply and Demand since early this year. It depends on how many Sell Orders are still active at this Level, the Market might have to drop before it can find enough Demand to give the Market the Momentum it needs to break through this Supply Zone.Ignored
However if that does NOT happen, as was obvious today, that means the buyers don't have enough volume to overwhelm the sellers and thus, give up. They close their long positions with sell orders and add to the sellers, who are selling the top and..."whoosh" price falls until there is no one else left to sell...then the game starts all over at the other side of the range.
To me that is order flow...NOT supply and demand, because I seriously doubt the global supply or demand for EURO's or US Dollars has changed much in the last 2-3 weeks. I may be wrong on that however.