EURUSD potential Forecast | Monday 6th February 2023
Hello,
I rely on ICT concepts for my trading. I would like to share a trade idea for next Monday, February 6th, 2023.
Fundamentals
The NFP data release on Friday resulted in a way better than expected result 517k expected VS 193k forecast. This resulted in the DXY strengthening greatly.
Idea
With price causing a BOS, I'm expecting price to likely move towards the 1.07135 area, where the overlap support, relative equal lows & 61.8% Fibonacci line are.
It's also worth noting that the 1.04815 area is where the next overlap support is, if price breaks the nearest support.
For entries, it's important to use confirmations on smaller timeframes and to always exercise caution while trading.
Thank you,
Chen Yongjin
I rely on ICT concepts for my trading. I would like to share a trade idea for next Monday, February 6th, 2023.
Fundamentals
The NFP data release on Friday resulted in a way better than expected result 517k expected VS 193k forecast. This resulted in the DXY strengthening greatly.
Idea
With price causing a BOS, I'm expecting price to likely move towards the 1.07135 area, where the overlap support, relative equal lows & 61.8% Fibonacci line are.
It's also worth noting that the 1.04815 area is where the next overlap support is, if price breaks the nearest support.
For entries, it's important to use confirmations on smaller timeframes and to always exercise caution while trading.
Thank you,
Chen Yongjin
Comment:
Take profit target reached