Saad Ullah
The EUR/USD pair is at a critical juncture following a recent steep selloff. After sweeping through sell-side liquidity, the currency pair is now attempting to recover, leaving traders watching closely for confirmation signals that could determine the next major move.
EUR/USD Price Analysis: Eyes on CISD Breakout
Looking at the 5-minute chart, EUR/USD is trying to bounce back after hitting the SSL (Sell-Side Liquidity) zone. Trader @sirrillahfx points out that we're at a crucial turning point where bulls might be gearing up for a comeback.
The key thing to watch? A solid candle close above the CISD level. If we get that, it's game on for the bulls. Without it, we're stuck in no man's land between these liquidity zones.
Key Levels: SSL, IFVG, and BSL in Focus
Here's what matters on the chart right now:
- SSL (Sell-Side Liquidity): Just got swept - this is where the bears ran out of steam.
- IFVG (Imbalance Fair Value Gap): Could act as a pit stop before any move higher.
- CISD: The make-or-break resistance level that needs to be cleared.
- BSL (Buy-Side Liquidity): The ultimate target if bulls take control.
Breaking above CISD could send the pair straight toward BSL, where there's plenty of liquidity sitting above previous highs.
EUR/USD Price Outlook: What Traders Should Expect
Right now, EUR/USD is dancing to the tune of intraday liquidity flows. If we can't get that clean break above CISD, we might see another trip back down to SSL territory. But if buyers do step up and push through, we could be looking at a decent run higher.
The next few candles are crucial - they'll likely set the tone not just for today, but possibly for the entire week.
Conclusion
EUR/USD needs a convincing close above CISD to get the bulls excited. Until that happens, it's a waiting game with SSL providing support below and BSL as the prize above.
Saad Ullah
