EURUSD inversely correlates with the DXY, which I put a previous post up with some analysis of a potential big drop. This would align nicely with my set up on EU.
My areas of interest are marked on the right hand side and I am seeing two potential entries for this move. Price is currently approaching a daily order block and when it reaches here I will be watching PA closely and finding an entry on this move when and if the opportunity presents itself. The first entry I see is at the ceiling of my order block, this lines up nicely with a weekly key level swell as the 61.8% fib retracement from the previous high. If price shows no signs of reversal I will then be looking for entries at EQ of the order block. The targets from the double top formed also align with this OB which gives us another confluence for potential exhaustion and reversal.
If we do see a reversal here this would create a new higher low meaning targets can be for a new higher high, with my TP @1.2620.
My areas of interest are marked on the right hand side and I am seeing two potential entries for this move. Price is currently approaching a daily order block and when it reaches here I will be watching PA closely and finding an entry on this move when and if the opportunity presents itself. The first entry I see is at the ceiling of my order block, this lines up nicely with a weekly key level swell as the 61.8% fib retracement from the previous high. If price shows no signs of reversal I will then be looking for entries at EQ of the order block. The targets from the double top formed also align with this OB which gives us another confluence for potential exhaustion and reversal.
If we do see a reversal here this would create a new higher low meaning targets can be for a new higher high, with my TP @1.2620.