EURUSD HEADING UP FOR THE HIGH LIQUIDITY???

Good morning traders,

Firstly, we wish everyone a happy and profitable trading week ahead.

We come back to EURUSD chart this morning that last week on Friday, EURUSD surprisingly declined in price as DXY rose up. We see this as liquidity sweep by banks before price decides to carry on further up. Reason why we think its liquidity sweep?

- Notice volume as price was decline - Volume dimishing indicating large buyers absorbing supplies
- Volume rising as price is rising
- DXY taking previous high liquidity but EURUSD did not - indicating Divergence and EURUSD is reluctant to decline further

We believe EURUSD will take the liquidity lying above the previous wick now. However, this does not mean we will enter buy position now. We will enter at optimal trade entry which is around 0.9950

We will keep you all posted as price moves

Commentaire:

Just observing. No trades taken yet