January 4, 2024
EUR/USD #Montly OverviewÂ
1M: On the montly timeframe we are still in a downtrend. There are also highs from past years that act as targets for the long term. Updating the high of the last year, it is possible to go to higher levels (invalidation liquidity pools). Below we have a supply zone in the form of FVG.
1W: The weekly timeframe shows us the origin of the OF (invalidation liquidity pools). Above we have targets that can be achived by attaching above PYH (previous year high). Below an imbalance that can give a reaction.
1D: Clean OF. Building movement. Before the invalidation of the OF. Above we have targets. The movement will continue due to the formation of order flow.
4H: Consolidation between FVG's. With a short narrative, the target below will be reached.
1H: Above there arw targets in the form of compression and the main traget - high. Also a large liquidity pool below.
