"EUR/USD Ready for Liftoff: Demand Zone Hold & Wave 1 Rally Incoming 🚀"
Analysis: Price has completed Wave (c) in a corrective structure and is primed for a bullish Wave (1) push. The pair is sitting strong in the 1.0200-1.0325 demand zone, showing signs of a bounce.
Key Drivers: Forex Options Expiry: High activity around 1.0570-1.0600 today could act as a pivot zone for price. DXY Weakness: Dollar Index stalling below resistance supports EUR strength. The Setup:
Long Entry: Look for buys near 1.0325 or on confirmation of a breakout above 1.0600. Stop Loss: Below 0.9538 (below the demand zone or the last swing low (wave c).
Risk-Reward Ratio: With a 6:1 RRR, this is a textbook setup for catching a multi-month rally.
Quick Note for the Bulls: Stay patient for the demand zone reaction or confirmation of Wave 1 breaking higher. Protect your capital by sticking to the plan.
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Disclaimer: This is not financial advice. Always manage your risk and trade responsibly.