The 200 Pip move towards €1 or €0.96? I reckon the latter will occur first. Below are my confluences (reasons) as to why I see EURUSD reaching €0.96 in the coming days/ weeks.
Confluences
- The DXY is very bullish with Commercial banks (Smart Money) being Net Long on the U.S Dollar Index (see
). Which results in XXXUSD pairs being Bearish.
- EURUSD has been in a Bearish Orderflow on the Higher Timeframe (HTF), so it would make sense to follow the order flow until a key Discount array has been reached before a Break in Market structure to become bullish.
- EURUSD is currently at a 4 Hour Bearish OB (Which is at premium array of the current 4 hour range price is trading within).
- Institutional Price level (IPL) €0.98500 is a strong sell entry point as the institutions will be looking to sell their EURO for USD during the NY Session (which is a great time to get good entries during a volatile time of the Market day).
- €0.98500 is also the close of the Fair Value Gap above current Price which is also within the 4 hour Bearish OB mentioned in the 2nd confluence above.
- €0.96000 is a great Take Profit area for the Swing position since there is a Fair Value Gap that has not been closed fully. That is also the Discount Array of the price Range EURUSD is trading within.
If you are confused with which broker to use to trade Forex pairs, I got you covered as i am recommending you to try out FBS which is a regulated broker that has been in operation for 12+ years running. There are pretty cool incentives (e.g. Rebates on trades) you shall receive using this link: fbs.partners?ibl=11840&...
Feel free to do more research on them before opening an account.
With this said, Happy Trading Pals
Confluences
- The DXY is very bullish with Commercial banks (Smart Money) being Net Long on the U.S Dollar Index (see
- EURUSD has been in a Bearish Orderflow on the Higher Timeframe (HTF), so it would make sense to follow the order flow until a key Discount array has been reached before a Break in Market structure to become bullish.
- EURUSD is currently at a 4 Hour Bearish OB (Which is at premium array of the current 4 hour range price is trading within).
- Institutional Price level (IPL) €0.98500 is a strong sell entry point as the institutions will be looking to sell their EURO for USD during the NY Session (which is a great time to get good entries during a volatile time of the Market day).
- €0.98500 is also the close of the Fair Value Gap above current Price which is also within the 4 hour Bearish OB mentioned in the 2nd confluence above.
- €0.96000 is a great Take Profit area for the Swing position since there is a Fair Value Gap that has not been closed fully. That is also the Discount Array of the price Range EURUSD is trading within.
If you are confused with which broker to use to trade Forex pairs, I got you covered as i am recommending you to try out FBS which is a regulated broker that has been in operation for 12+ years running. There are pretty cool incentives (e.g. Rebates on trades) you shall receive using this link: fbs.partners?ibl=11840&...
Feel free to do more research on them before opening an account.
With this said, Happy Trading Pals
