EURUSD Outlook - New Year New ChallengesLooking at the overall I see a major level around the 1.094s, with 1.096 being most likely as the EURUSD tends to favor that particular pip area in each major price mark (*.***6**). This looks like a "Shelf" area of support where a lot of buying took place before.
Seeking Long out of the 1.09s but in the meantime looking for a liquidity run short into the long, with the shorts playing out possibly early in the week with the turning point and rally on NFP release.
Using a funded account to make trades with, currently this account is part of a 5k Challenge, 2 phase evaluation. This is the starting trades.
Opening trade is placed and active with long 0.04 at 1.10212, stop on 1.09960, targeting the short entry of 0.04 at 1.10658, having the stop at 1.10910.
Should the short fail from there, a second, larger size of 0.06 is waiting with a limit sell from 1.11211, stopping at 1.11510. Short targets are set for 1.096, just shy of the predicted long entry to be on the safe side.
Long and overall Post NFP looking for an entry around 1.0947, stopping under 1.09164, and Intend to use a .04 or .05, though that will depend on the outcome of the first few sets in the range of trades up to this point, hit or miss.
