With the weakness seen in the US DOLLAR INDEX in the recent weeks, we’ve seen a surge in price on foreign currencies like EURUSD 7 GBPUSD. A rally is also expected to unfold on this asset class but price insist to stay inside of a consolidation Range.
I outlined a level as sell stops, that’s where I believe the pool of liquidity is. price did infact neutralize the orders and reverse from that point on, hence changing the underlying trend from Bearish to Bullish.
Price still staying inside of the consolidation gives a clue that the market makers are working in their orders. their volume is too big that they have to break it down, hence keeping price inside of a range.
