EUR/USD - Asian Session SURGE To Reverse?
EUR/USD Surged throughout the Asian session sending a shockwave of a surprise to new sellers. The Euro rallied over 100 PIPs alongside GBP/USD as both currency pairs sank into harsh supportive lows.
There was indeed some macroeconomic noise however, these currency pairs are destined for further decline and it is only natural for the market makers to pump up the price to destroy new short sellers before a trend continuation takes place.
Today's highs of 1.1667 are currently holding as the pair is forced into the H4 supply region (Marked in green). I anticipate a huge drop from these levels, if not today then most definitely into next week.
1.1527 lows need to be taken out -marked in blue. Stops should be considered to be places above the highlighted region as this will mark out an exponential trade setup when risk-reward is considered.
Please be careful trading today!