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EURUSD Potential Forecast | Monday 16th January 2023

Hi everyone, today I will be talking about a possible EURUSD short trade using Smart Money Concepts for this week.

Trade idea
1. Price rejected off the previous weekly high, which followed by very strong bearish momentum
2. We can see that there is equal lows and sell side liquidity below at ~1.0801 where price could be targeted at
3. Fair value gap marked by the blue zone above gives a point of interest to short price back to clear the sell side liquidity in point 2
4. I will have a take profit zone at the previous daily low

Given the strong bearish momentum coming in EURUSD, I believe there is room for EURUSD to continue bearish and clear the previous daily low. And I will be looking for SHORT opportunities at the fair value gap. (bluezone)

Things to look out for:
1. If price were to sweep sell side liquidity and followed by a very strong bullish momentum, price could reverse back bullish.
So we have to be vigilant in the market.

Thank you and trade safe guys!!!

Any chart request please feel free to pm me.

Regards,
CY