EURUSD potential forecast | 6 November 2022
Hi everyone!
I specialise in using smart money concepts to analyse price and charts.
The timeframe is set on the H4 and price is structurally bullish with higher highs and higher lows being formed.
The direction of price for EURUSD is dependent on the upcoming fundamental news of USD CPI next week which can affect the sentiments in the market.
Technicals
- Price has respected the demand zone and ticked higher.
- Price can go 2 ways.
1. It can perform a retracement to mitigate the price inefficiencies/fair value gaps present in the market.
2. It can head higher to clear liquidity above.
In my opinion, since EURUSD is bullish based on the H4, I would like to see a nice retracement and wait for long confirmations before buying into the EURUSD.
Let's stay vigilant in the market and watch how the fundamental news comes into play with technical factors.
Cheers.
I specialise in using smart money concepts to analyse price and charts.
The timeframe is set on the H4 and price is structurally bullish with higher highs and higher lows being formed.
The direction of price for EURUSD is dependent on the upcoming fundamental news of USD CPI next week which can affect the sentiments in the market.
Technicals
- Price has respected the demand zone and ticked higher.
- Price can go 2 ways.
1. It can perform a retracement to mitigate the price inefficiencies/fair value gaps present in the market.
2. It can head higher to clear liquidity above.
In my opinion, since EURUSD is bullish based on the H4, I would like to see a nice retracement and wait for long confirmations before buying into the EURUSD.
Let's stay vigilant in the market and watch how the fundamental news comes into play with technical factors.
Cheers.