"EUR/USD Ready for Liftoff: Demand Zone Hold & Wave 1 Rally Incoming 🚀"
Analysis: Price has completed Wave (c) in a corrective structure and is primed for a bullish Wave (1) push. The pair is sitting strong in the 1.0200-1.0325 demand zone, showing signs of a bounce.
Key Drivers: Forex Options Expiry: High activity around 1.0570-1.0600 today could act as a pivot zone for price. DXY Weakness: Dollar Index stalling below resistance supports EUR strength. The Setup:
Long Entry: Look for buys near 1.0325 or on confirmation of a breakout above 1.0600. Stop Loss: Below 0.9538 (below the demand zone or the last swing low (wave c).
Risk-Reward Ratio: With a 6:1 RRR, this is a textbook setup for catching a multi-month rally.
Quick Note for the Bulls: Stay patient for the demand zone reaction or confirmation of Wave 1 breaking higher. Protect your capital by sticking to the plan.
Follow for more trade setups and share this idea to boost it to your trading circle! 💹
Disclaimer: This is not financial advice. Always manage your risk and trade responsibly.
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.