EURUSD Long
with the new year, comes market uncertainty. Uncertain which direction price action will go. First week of the new year, its best not to take trades, however, to let a beautiful price set up pass is almost unlawful in my eyes (lol). that being said, lets take a stab at this. As markets closed last year, we see that price rallyed down and was a bearish market for the EUR, considering the new strain outbreak there. We see that on the H4, we have a bullish OB that needs to be satisficed. Price action left a good void, which is 95% cleared. However, yet to tap the OB. Price broke out above the resistance and we see it coming down for a retest of the support. Overall, market structure is on an uptrend, with price corrections (reversals/exhaustions) to the downside.
We are setting our trade at the fib lvl as illustrated in the setup. risking 50pip SL to gain +100 and possibly swinging this trade. On the weekly/daily TF, we assigned our TP at the EQ high, where market liquidity remains still uncleared.
We are setting our trade at the fib lvl as illustrated in the setup. risking 50pip SL to gain +100 and possibly swinging this trade. On the weekly/daily TF, we assigned our TP at the EQ high, where market liquidity remains still uncleared.
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