JICPT|EURUSD pullback bullish setup on 2H

Hello forex traders. EUR has dropped by more than 400 bps since late May.

On the weekly chart, it's approaching solid week demand zone where I'm quite interested in. But it's still have some room to go. Are there any opportunity?

On the daily chart, I observed that pair formed a bullish engulfing pattern after a drastic move to the downside. So, sellers may take a test for while, so I'm looking for short swing long opportunities on smaller timeframes.

On the 2H chart, I got a confluence buy zone with fib and control low structure. The entry zone is 1.1900-1.1880.

It's a bit aggressive trade, once the zone being violated, EURUSD might go sideways or test the lower weekly demand zones. To reduce the risk, you can set alerts and see price action around the 1.19.

This is my detailed trading plan. Give me a like if you're with the idea.

Stay safe and trade safe.

Commentaire:

Price hit the zone, penetrated a little bit and bounced back.

Commentaire:

This is pretty clear that downtrend needs to be conquered to establish bullish uptrend. If price goes sideways, it's not good for bullish buyers. Watch out!

Commentaire:

Alright. Zone works. Trouble lines got terminated.

Commentaire:

Just got the time to update this. I marked the key zone in grey color. The zone served as the defend zone. If it's held, and new high is created, then I will be confident for upward momentum. Unfortunately, it's broken, so the uptrend is terminated.