Lingrid | EURUSD choppy MARKET. Potential LONG

The market bounced off the support level by taking liquidity below the previous day's lows after news came out. Bears could not push EURUSD lower, meaning that we can expect a deeper pullback upside. The market trend is still bearish on the daily timeframe, and above that, we have strong resistance levels. DXY made a double top on the daily timeframe and closed with a massive bearish candle, which suggests that it might move to a to a lower level. Another scenario for the market is a sideways move until the NFP. Overall, I expect a choppy market, and if the support level holds, the price may retest previous-week highs. My goal is the resistance at 1.07700


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comment:

The price perfectly fulfilled my previous idea. EURUSD bounced off the buying area. It formed a long-tailed bar, showing the liquidity grab below the round number at 1.07000. On the daily timeframe, we also have a bullish candle with a with a long wick. The price is testing the top of the range on the 4H timeframe. If the market breaks and closes above the range zone, possibly the road to 1.08000 is opened. Today is NFP day, so high volatility is expected, meaning the price might go in any direction. My goal is the resistance at 1.07800

Trade closed: target reached:

The price played out perfectly!