EURUSD LOOKING FOR BUY ENTRY

Good Morning Traders,

It seems EURUSD trend has been changed to bullish since 14th July, 2022.

What we see in EURUSD this morning is that yesterday evening price shot up over 100 pips at arouund price 1.01400. This suggest the buying pressureis high and ithe institutions may have placed alot of buy orders at price 1.01400 approximately.

However dont be misleaded by that and dont be naive to place a buy limit at 1.01562 with SL 1.01187. You could be taken out easily with the sweep the banks do on stop losses. Notice the strong Equal lows liquidity lying below this.

We belive that the price may sweep these EQLs and then continue rising. This however may not happen if price decides to carry on upwards from the FVG (Fair Value Gap) and doesnt want to drop any lower since buying pressure is high.

We will keep you all updated

Comment:

EURUSD Moving as expected

Sell Trade booked partial and SL to entry

Comment:

EURUSD sell TP hit +1.80% return🎯

Note how price reacted at both FVG as well as the area above EQLs.

Like we said on the Tradingview post, price can decide take off at FVG or at area above EQLs.

We still believe this is an early buy entry. We will wait until the price comes to our entry after sweeping the EQLS $$