The pair is currently trading within a consolidation zone after forming a new higher low near the 2.07000 level. I’ve identified a liquidity trap and small resistance zone between 2.07850–2.08050, just below a larger resistance block at 2.08305, where price was previously rejected.
We have a clear break of structure (BOS) suggesting bullish momentum, followed by a support creation and potential re-test zone forming a bullish flag-type structure.
📌 Entry Idea:
I’m watching for a pullback to the 2.07300–2.07000 area (highlighted zone) for a potential long entry (3-tap setup). A bullish engulfing or momentum confirmation in this area would increase confidence.
🎯 Targets:
• TP1: 2.08300 (minor resistance)
• TP2: 2.08800
• TP3: 2.09120 (strong supply/resistance zone from previous rejection)
🛑 Stop Loss:
Below 2.06700 (beneath recent low and BOS confirmation zone)
We have a clear break of structure (BOS) suggesting bullish momentum, followed by a support creation and potential re-test zone forming a bullish flag-type structure.
📌 Entry Idea:
I’m watching for a pullback to the 2.07300–2.07000 area (highlighted zone) for a potential long entry (3-tap setup). A bullish engulfing or momentum confirmation in this area would increase confidence.
🎯 Targets:
• TP1: 2.08300 (minor resistance)
• TP2: 2.08800
• TP3: 2.09120 (strong supply/resistance zone from previous rejection)
🛑 Stop Loss:
Below 2.06700 (beneath recent low and BOS confirmation zone)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.