EURUSD 13/10/24
Starting off the week with the US dollar, we saw a significant sell-off last week, which eventually led to consolidation as the week progressed. Price action currently suggests a potential move higher before any long-term downward trend continues. As mentioned in previous weeks' analyses, there is now a buyer's market emerging.
We expect the current price action to persist. While pullbacks are not guaranteed, a broader move towards lower prices in the long term is anticipated. However, short-term reaccumulation is also likely, meaning a push higher is just as probable as a continued sell-off at this stage. We are not expecting a substantial pullback, but the long-term outlook remains bearish.
Key areas of interest include a significant supply zone and a liquidity high. If the price moves up to this level, a strong sell-off could occur. Nevertheless, the overall expectation is for the price to decline further before reaching these points.
Stick to your risk and follow your plan!
We expect the current price action to persist. While pullbacks are not guaranteed, a broader move towards lower prices in the long term is anticipated. However, short-term reaccumulation is also likely, meaning a push higher is just as probable as a continued sell-off at this stage. We are not expecting a substantial pullback, but the long-term outlook remains bearish.
Key areas of interest include a significant supply zone and a liquidity high. If the price moves up to this level, a strong sell-off could occur. Nevertheless, the overall expectation is for the price to decline further before reaching these points.
Stick to your risk and follow your plan!
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