EURUSD printed a strong impulsive sell-off, sweeping liquidity from the downside before initiating a sharp corrective bounce. The current move appears to be a retracement into a higher-timeframe supply zone around 1.1485 – 1.1500.
This area previously acted as a distribution region and may attract fresh sell-side pressure if price trades deeper into the zone.
If sellers defend this region, the market could form a lower high within the bearish structure, potentially leading to another expansion toward the downside.
Possible scenario
• Price pushes into 1.1485 – 1.1500 supply
• Rejection confirms lower high formation
• Continuation toward previous liquidity levels below
Key Levels
Supply Zone: 1.1485 – 1.1500
Current Price: ~1.1479
Structure Bias: Bearish unless supply breaks
This area previously acted as a distribution region and may attract fresh sell-side pressure if price trades deeper into the zone.
If sellers defend this region, the market could form a lower high within the bearish structure, potentially leading to another expansion toward the downside.
Possible scenario
• Price pushes into 1.1485 – 1.1500 supply
• Rejection confirms lower high formation
• Continuation toward previous liquidity levels below
Key Levels
Supply Zone: 1.1485 – 1.1500
Current Price: ~1.1479
Structure Bias: Bearish unless supply breaks
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.