Similar to GBP/USD, I’m looking for long opportunities on EU. My key area of interest is the 3-hour demand zone, where I will wait for price to mitigate and accumulate before entering a position.
Price has also changed character to the upside, further validating this demand zone as a strong point of interest. Additionally, there is a significant amount of liquidity to the upside that needs to be taken.
The next major supply zone I have marked out is the 23-hour supply zone, which is further away. For now, my focus remains on the demand zone—unless price breaks below, creating a new supply level.
Confluences for EU Buys:
– Bullish market structure shift, with a clean demand zone left behind.
– Unmitigated 3-hour demand zone, making it a strong area of interest.
– Liquidity resting above, which price is likely to target.
– DXY has been bearish, aligning with a bullish outlook for EU.
Note: If price breaks structure to the upside without tapping my nearby demand zone, I will either wait for a new demand zone to form or look for a sell-to-buy opportunity from supply.