EURUSD PRICE ACTION UPDATE

2 Feb

Hello everyone here's my technical analysis for this trade. Obviously for a while price has re-traced to s strong support zone which created it's previous bullish run when look at the chart. For a few days prior to this there was obvious liquidity created which made it even more accurate because for price to go higher it needs to clear liquidity and move to it's original trend which when you look on the 4hr and daily chart it's an uptrend since breaking it's previous bearish trend. But as traders it's important to still make use of proper risk management because no one knows the exact direction of the market. In this trade I've set my SL 1.07110 just below the previous swing low and my TP 1.12538 just close to the highest swing high on the chart.