EURUSD - TRADE SET UP - 06:25 - Mon.11th Sept.

Traders, price is boxed in between 1.0750 and 1.0685. Several trade opportunities here. Caution with BUYS as we are still in a downtrend. If price breaks and retests 1.0750 target supply at 1.0800. We may see a "fakeout" early London session soaking up liquidity lower before a bounce. A break of 1.0685 support may signify a continuation of downtrend.
DIONNG

Commento:

Traders, EU has been in a downtrend since it made a new high in July 23. Consistent lower lows and lower highs. Every buy rally is met with selling pressure pushing price to lower lows. It looks like we are eventually going to see 1.0500 pricing for EU where we may get a significant bounce. Expecting price to rally higher in the next couple of days but we will run into a supply area around 1.0880 with resistance being at 1.0940. Sells from there may work as we are still down trending. A bounce of the 1.0640 support level is possible but how high? A break of this support will open up 1.0480.
DIONNG

Commento:

Hey Traders, I'm looking at trading the "extremes". Example is a break of support sweeping liquidity below with a demand area to the left. You can take the BUY looking for a bounce at that level or wait for confirmation. There is such a level here at 1.0685/1.6500 from May this year. How high can we bounce? Caution around the 1.0925/1.1000 supply levels where we may be targeting sells. Watching price action coming into 06:00/08:00.
DIONNG