Lingrid | EURUSD Pullback and NEW Highs

The price perfectly fulfilled my previous idea. EURUSD bounced off the resistance zone but did not reach the target level yet. It took out the highs and pulled back, forming a swap zone. The market is in range on the 1H timeframe. It is squeezed. The price impulse move broke the range zone with a big bullish candle, showing the significance of the support level. I expect a liquidity grab below the previous daily low, then a move higher towards the next resistance. My goal is the resistance at 1.09980

Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩‍💻

Comment:

The market is overall moving sideways, and the price formed a triangle pattern, which is a trend continuation pattern. EURUSD updated swing highs and higher lows. The recent bounce off the support level: bullish move is pretty weak. I think the price may move upward from the support and reach the resistance by taking liquidity below the Monday low. It seems like the market is in anticipation of the upcoming CPI news today. I expect the market to make an extension upwards. My goal is the resistance zone at 1.09790

Comment:

The market tapped the entry zone, then went higher during the NY session yesterday. EURUSD formed a long-tailed bar on the 4H timeframe, a sign of the level rejection. The market took the liquidity below the last Monday's low and fixed it above. Thus, I think the market might move up because the price is bouncing in the range zone between 1.09100 and 1.094500. I expect the price to go up from the support level, retesting the channel border. My goal is resistance around 1.09580.

Trade closed: target reached:

The market literally went up and hit the TP.