EURUSD - Buy

25 Oca 2021

EURUSD has been an overall huge uptrend over the last few months, however we broke out of our ascending channel to the downside. Upon this we saw more downwards continuation and a temporary switch of trend. However now the market structure is starting to point more towards buys. For the last week or so we have started to see some bullish momentum and now forming higher highs and lower highs. We broke out of the descending trend-line and price has moved down to our support zone which aligns with the 61.8 fib level. My stop loss placement is below the ascending trend-line also, and closure below this would make this setup invalid and as a result stop us out.