EURO Futures (6E, June)
DAILY TPO - after opening up inside value from Friday, we will be looking for the poor low and Asian range to be taken out during London session. This would align us with a Daily VAL and a sweep of Asia with the idea that buyers will step in here as per AMT>
AM TPO - The AM Naked POC aligns nicely with the VAL which supports the idea of a short term long position off these lows.
EURUSD 15min candlestick (with DOM)
The TPO levels you can see sit just above a 15min order block which the DOM shows massive orders resting on. I suspect a spike into this area would trigger longs quite quickly providing us with a high probability setup to the upside.
The bias remains bearish for this week however we have yet to make a weekly high coupled with the news announcements this week, it would a likely scenario if the market were to rally a bit higher first.
GBP Futures (6B, June)
DAILY TPO - As per AMT, we can expect a further dip lower before any buyers would likely step in, back to retest the VAH and single print areas (white /blue)
AM TPO - the daily TPO aligns with the AM in the sense that we need a dip lower before entering any long positions, either to entry point 1 (green) which represents an historic VAH, or dipping below this into the Naked POC (red) slightly below.
GBPUSD 1HR candlestick chart - we can see the TPO levels I have marked on however given the rangebound nature of this pair over the past couple of weeks, plus the 3 drives to the high and the possibility of USD strength prevailing this week, a bounce from these levels would be purely short term. However, they remain as solid support for the market to break through if the bears are to take control from here.
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