EUR/USD 1H - With recent USD weakness being introduced via Fundamental News releases today we have seen that price has traded us higher as the Euro has turned out stronger.
With that being said you can see that we have broken the last protected high that was set within the previous bearish move that took price as low as it did, this means we are no longer in a bearish trend.
A break in structure to the upside suggests that bulls are taking over and we may be well within a bull run, because of this we should be now looking to trade this market higher this is why I have marked out a FVG for us.
I would like to see price trade down and into this, clearing any remaining Demand before a move back up creating new highs, I suspect price could trade us right up and into the Supply Zone above.
This is where I will be looking to set my TP, once my TP has been taken I will then prepare for the next bearish leg, waiting for confirmation first of all.
With that being said you can see that we have broken the last protected high that was set within the previous bearish move that took price as low as it did, this means we are no longer in a bearish trend.
A break in structure to the upside suggests that bulls are taking over and we may be well within a bull run, because of this we should be now looking to trade this market higher this is why I have marked out a FVG for us.
I would like to see price trade down and into this, clearing any remaining Demand before a move back up creating new highs, I suspect price could trade us right up and into the Supply Zone above.
This is where I will be looking to set my TP, once my TP has been taken I will then prepare for the next bearish leg, waiting for confirmation first of all.