EURUSD BULLISH WAVE

4 Feb 2020

I have a bullish bias on EURUSD, however before we see this bullishness come into the market, I want to see big banks and institution take price down to @1.09500 to remove all liquidity from the market and use this liquidity to push price on EURUSD back up to 1.12400. Due to the Fibonacci extension lining up with my entry shoes that this could e a profit taking level for institutions sell trades, and in order for them to take their buy trades they need to build up a huge amount of liquidity to be take out. As we can see the level @1.100 has acted as massive support and formed a triple bottom now. I will be looking for this level to be manipulated by banks and take all retail liquidity from their. I will then enter when banks are ready to bring the bullishness in EURUSD through retail trades. I believe a big bullish spike will occur due to the amount of time the supportive region @1.1000 has held, as you can see from the data range rectangle it has held for a strong 85 days meaning a lot of sellers/buyers limit are presnt int this area.