Forex NZDCAD : New weekly demand imbalance created lower
21st November 2018
Forex USDCAD : Daily demand imbalance at 1.31772
26th November 2018

EURUSD is in a clear long term downtrend on the monthly and daily timeframes. New supply levels are being created and respected, demand levels are being eliminated with a lot of room for price to retrace to lower monthly demand zone around 1.06 price area.

Daily supply level at 1.1426 is in control and playing out, room to keep on dropping lower in a daily downtrend. Clear long term and short short bias on EURUSD Forex cross pair. A stronger US dollar pushed the pair further to the downside during the American session. The dollar index DXY is in a clear uptrend as well. The move to the upside  takes place amid a sell-off in crude oil prices.

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.

1 Comment

  1. Mohola Marima says:

    Your Analysis are always on Point, Clean and very easy to understand. Keep on Posting it helps us too much to track Pairs one must concentrate on. SD IS KING

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