EURUSD - JANUARY 27, 2025Right now, I’m expecting price to react from the 1.04699 zone, which is an important area on my chart. If price shows signs of bouncing from this level on the 5-minute chart, I’ll be looking for opportunities to go long (buy) targeting the Daily high.
What Happens If Price Doesn't Hold?
If price doesn't hold at 1.04699, I’ll shift my focus to looking for short (sell) opportunities down to the 1.04200 zone. This area is interesting because it lines up with several important technical factors:
A 15-minute Breaker Block, which is a level where price has reacted before.
A 15-minute Fair Value Gap (FVG), which represents an imbalance in the market.
A 15-minute Order Block (OB), which is a strong area of interest for potential buyers.
Key Things to Keep in Mind:
Now, the 1.04200 zone also lines up with the daily low, which is at 1.04112. This means price might sweep below that level to grab liquidity before moving higher.
If that happens, I’ll be watching the 1.04052 zone, where there’s a 5-minute Order Block that could act as strong support. If I see a bullish shift here, I’ll consider buying with an upside target at the daily high of 1.05211.
