EURUSD Forex cross pair supply and demand technical analysis is telling us that only shorts are allowed at new supply zones. The weekly timeframe is in a clear downtrend with new weekly supply imbalances being created and respected and demand imbalances eliminated.
There is a lot of room for price to keep on dropping further on the weekly and monthly timeframes, room to reach a very strong monthly demand level near EURUSD forex cross pair parity level.
In the meantime the Dollar Index DXY is reacting to a weekly demand level as well with room to keep on rallying. Both EURUSD Forex cross pair and the Dollar Index DXY are highly correlated.
You can use this supply and demand technical analysis to plan short trades using other Forex trading strategies, you could even use indicators and oscillators to plan your trades. We don’t need indicators to make a trading decision though, if you still want to use them, we’d advice you to take only short trades on EURUSD since the bigger picture trend is down and new supply levels are being created.
This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
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.
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