After the strong impulse move up, price has now retraced and filled all imbalance (FVG) zones created during the rally.
This usually means the market finished correcting inefficient price action and is moving back into equilibrium.
Current situation
Major support: ~1.20 – 1.30
All bullish FVGs below price → filled
Momentum cooled down after distribution at highs
What this means
With imbalances cleared, the chart is no longer in a forced correction phase.
Now the level itself matters:
If support holds → accumulation range likely
If support breaks → continuation of the macro downtrend
Simple plan
Hold above 1.20 → base formation possible → recovery when market strength returns
Lose 1.20 → next liquidity sits lower → bearish continuation
First bullish confirmation → reclaim prior breakdown area (~1.60 zone)
Right now this is a reaction zone, not yet a reversal.
Do you expect buyers to defend this level or will liquidity below get taken first?
MrC
This usually means the market finished correcting inefficient price action and is moving back into equilibrium.
Current situation
Major support: ~1.20 – 1.30
All bullish FVGs below price → filled
Momentum cooled down after distribution at highs
What this means
With imbalances cleared, the chart is no longer in a forced correction phase.
Now the level itself matters:
If support holds → accumulation range likely
If support breaks → continuation of the macro downtrend
Simple plan
Hold above 1.20 → base formation possible → recovery when market strength returns
Lose 1.20 → next liquidity sits lower → bearish continuation
First bullish confirmation → reclaim prior breakdown area (~1.60 zone)
Right now this is a reaction zone, not yet a reversal.
Do you expect buyers to defend this level or will liquidity below get taken first?
MrC
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