EURUSD: Now I'm Ready To Buy On Our 2nd Test of Yesterday's Zone

Following up on yesterday’s EURUSD analysis, the market reached my killzone and we saw a slight bullish bounce as previous resistance turned into support. We have now made our way back down into that zone, but this time the ebbs and flows of price action have set up a potential advanced pattern in the form of a bullish bat.

If you’re a Syndicate member, check your emails as I just recorded a video on this same trade talking about the potential bearish bat that may form as a result of this as well and why you may, or may not want to use this as an “aggressive C” opportunity, but to keep things simple, the ATR has been big enough on this pair to provide more than enough potential profit by taking traditional targets so there’s really no need to get fancy. After all, as I mentioned yesterday I’m still uncertain whether our new structure high was a true move or just a fear based reaction to the madness that’s been occurring.

Personally, I’ve always been a fan of getting my money and getting out, especially in times like these. Anyway, we can discuss it more in the Live Room today. Good luck traders and continue to be safe out there.

Akil Stokes
Chief Currency Analysis at Trade Empowered
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