EUR/USD Short Term Outlook (Quick trade setups)

EUR/USD is showing signs of overextension on the daily. With an RSI reading of 24 and nearing the bottom of a declining trend line, we should start to see some calls for liquidity from sellers, opening up the opportunity for buyers to recover slightly.
I identified our upper supply zone which which sits right at our Major CHoCH level. I’m expecting price to rebound toward the fib 61.8/70.7% level for a mitigation and pull of liquidity.
Our two trade opportunities are:
1. Short-Term +- 3 R:R trade to the upside riding with the buyers toward mitigation and liquidity levels
2. Long-Term short trade once we mitigate these levels and grab liquidity for the sell-off

Commentaire:

10 and 3 R:R short term buys are active and quickly approaching their take profit levels!