EURUSD 29/09/24

Starting the week with the Euro to U.S. Dollar. Following last week, we saw a clear push to the upside, with price action generating solid movement in an uptrend. We expect this momentum to continue as the U.S. Dollar shows signs of weakening. This suggests a high probability of price action moving toward the previously established high, which serves as a key area of trajectory, clearly pointing upwards. This is a leading indicator of a potential new high being formed.

Additionally, there are areas of liquidity and demand, which are crucial points of interest should we see a pullback. Keep in mind, our daily trajectory is clearly bullish. However, if we break below the trajectory low and fail to react to the demand area, I would expect price action to decline further, taking us to the lower end of the range on the higher timeframe.

Stick to your risk. Always follow your trading plan.