EURUSD Potential Forecast | 26th November 2022
Hi everyone, today I will be talking about a possible EURUSD long trade using Smart Money Concepts for the next week.
Trade Idea
1) Key area of unmitigated demand as shown above
2) Price can potentially tap into the demand zone and continue its bullish momentum
3) Will be awaiting confirmations on the LTF like a break of structure (BOS) before entering
Fundamental Driver
- Market has been pricing in the risk-on sentiments and this is reflected from the recent rallies in stocks and EURUSD.
- In my opinion, the risk-on sentiments in the market can continue to increase which will lead to a further appreciation in EURUSD.
Things to look out for
- An invalidation of the demand zone will mean that price could potentially head lower.
Thanks for reading and trade safe friends!
Regards,
Chern Yu
Trade Idea
1) Key area of unmitigated demand as shown above
2) Price can potentially tap into the demand zone and continue its bullish momentum
3) Will be awaiting confirmations on the LTF like a break of structure (BOS) before entering
Fundamental Driver
- Market has been pricing in the risk-on sentiments and this is reflected from the recent rallies in stocks and EURUSD.
- In my opinion, the risk-on sentiments in the market can continue to increase which will lead to a further appreciation in EURUSD.
Things to look out for
- An invalidation of the demand zone will mean that price could potentially head lower.
Thanks for reading and trade safe friends!
Regards,
Chern Yu