Buying EURUSD with a decent setup for recovery

FX:EURUSD   Euro / U.S. Dollar
Minor contraction & 4H tools support


TP 1.08790 ( pips 62 / RR 3.64 )

SL 1.07997 ( pips 17 )

Gaps are generally filled quickly in FX unless there is a major change or update to a theme. Over this weekend we did have news but its not anything major aside from the Coronavirus slowing in China but rising in South Korea and Italy. There have been negative and positive signs reg the virus.

The charts we see is 1H and 4H.

On 1H we have a support at 38.2% of the recent high/low of EURUSD and a decent support level which we seen act well on the gap. We also have a possilbe contraction.

On 4H we are at the EMA and that could bring support.
As for my trading plan here, I look to lock in BE+2 after 12 pips of profit.

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