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EURUSD Forex major cross pair forecast and supply and demand technical analysis tell us the only way to trade EURUSD major cross pair is selling at new supply levels created. EURUSD has been trying to break lower and it did this week dropping strongly created a nice daily supply level where shorts will be possible if there is a retracement. Else shorts at new supply levels if price continues to drop.

There have been three supply imbalances created on EURUSD Forex cross pair lately, price retraced to one of them around 1.3000, two more supply zones have been created lower around 1.1280 and 1.1238. There is a lot of room for EURUSD Forex major to keep on dropping on the way to monthly demand level much lower.

As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and reacts strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.

Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements.

You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for price to pullback or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.

 

Alfonso Moreno
Alfonso Moreno
Full time trader, expert technical analyst and founder of Set and Forget supply and demand online trading community. Traveler, photographer and adventurer.

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