At the moment EURUSD is currently pushing higher from the March 15 2023 low. Short term intraday analysis is signalling that the pair can still continue higher. Price has broke above the March 15 high (red MSB) on the 1 hour chart while the pair has been making higher highs and higher lows signalling a bullish order flow. Looking at the 1 hour chart below we could expect for the pair to dip lower towards the fresh untouched demand zones (green) and possibly find more buyers to push the pair higher. If looking to trade EURUSD, traders should be patient and wait for price to enter the demand zones (green) first then switch to the smaller time frames to refine the entry with tighter stops. Switching down to the smaller time frames will give the trade a better risk to reward ratio and will give more confirmation on which demand zone to trade from. The continuation bullish order flow can extend higher towards the 1.0880 area where a 4 hour supply zone is visible. If price breaks below 1.0630 without seeing bullish confirmation on the smaller time frame, then buy setup is cancelled. Only time will tell what the pair will do but for now you know what to expect if EURUSD bounces higher off the demand zones.
EURUSD 1 Hour Chart March 21 2023
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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