EURUSD LONG SETUP 15/03/2021

15 Mar 2021

Today I share my 1st analyse on EURUSD :

Keep in mind that I expect a weak DXY I made a full analyse on that as well.

Weekly :

- We are making clear Higher High's and Higher Lows on the weekly chart.
- We rejected the weekly supply and demand zone as well.

Daily :

- We broke the descending trend line.
- We received a previous fibonacci completion. (-68)
- We rejected the weekly supply and demand zone very aggressively.

4H :

- We broke the last LH and the descending trend line as our indication.
- We are currently forming a Bullish M pattern.
- We drew the fibonacci from the 3rd leg to the 2nd leg.
- We look for an entry between the 61.80 and 78.60.
- We received some price deceleration at the 61.80 which aligns with a major 4H supply and demand zone.


I take this trade with a full 1% risk. If we complete the 4H TP (-27 fibonacci) it will be for 6.65% profit. Our second TP (-68 fibonacci) it will be for 9.85% profit.