EURUSD has been trending upwards for sometime now but seems to have met a roadblock at 1.1000 after testing the supply zone. Price managed to go above the supply zone with a few pips but quickly got absorbed and reacted aggressively and created a change of character (CHoCH) after price broke through the recent demand indicating the willingness of price to make some correction. Wait for price to head back to mitigate the supply zone that caused the CHoCH around 1.0990. Once price reaches back, we can navigate to lower time frames like 15mins or 1hour and wait for price to align structurally to the downside again before looking for selling opportunities. short term targets should come around 1.0805.
Remember to always apply proper risk and money management on all your trades.
Remember to always apply proper risk and money management on all your trades.
