FX.co ★ X_level | EUR/USD

EURUSD I think market makers have already started to position themselves in the euro market based on my current market analysis. I see a possible short-term downside objective around 1.1623 based on the most recent sell signals. I still view the overall trend as bullish, even though there might be some brief bearish pressure. Unless important support levels are broken, I anticipate that the market will continue to retain its upward structure. My key upside target is still close to 1.1720 when looking at things more broadly. Even while short-term swings cause brief pullbacks, the broader price movement still suggests that buyers remain in control of the larger trend. These corrective actions, in my opinion, should not be interpreted as proof of a significant trend reversal but rather as a typical part of the market process. The placement of traders in the order book is one of the elements affecting my perspective. Sell orders seem to be more concentrated than buy orders right now. Because market makers frequently profit from shifting prices into regions with concentrated liquidity, this imbalance is significant. Pushing the market higher could therefore compel short sellers to sell their positions, increasing purchasing pressure and assisting in the price's continued rise. In addition, I see that a sizable cluster of stop orders is situated below the current market price. Another appealing source of money is these stops. In order to initiate such stop-loss orders, market makers may decide to momentarily reduce the price before starting the larger upward trend again. Larger market participants may benefit from both higher and lower price fluctuations in this intriguing scenario. I continue to concentrate on both situations because of this. I continue to support a longer-term rise towardss the 1.1720 goal as long as the general bullish structure holds, although a short-term move towardss 1.1623 is still feasible. Determining the market's next big move will need careful observation of order flow and liquidity zones.