EUR/USD: Bullish Run

Published On: 5 August 2024, 10:10 AM | Tan Peng Chien, Dealer

Key Entry Price Pivot(s):
  • 1.1033
Recommended Trade:
  • Long at 1.0911
  • Stop Loss: 1.08835
  • Take Profit: 1.10353
Alternative Case
  • Short at 1.09680
  • Stop Loss: 1.1044
  • Take Profit: 1.07609
Remarks:
  • U.S. Dollar Index took a dive after tapping into bearish order block
  • Area of imbalance above current prices can be interpreted as liquidity to be grabbed
  • Target the high of the fair value gap which also serves as the pivotal point with stop loss set just before consolidation price at 1.08835
  • Alternative trade would be a short at the start of price imbalance above with a stop loss at the previous high of 1.1044 and target profit of 1.07609 for a healthy risk-to-reward
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