EURUSD MARKET ANALYSIS

 Good morning traders, I hope you all had an amazing weekend and you're ready to tackle the new week in the markets. Into the markets today, I'm looking at EURUSD where market opened this week inside a key H4 & daily demand zone at 1.07823 & 1.07446 which is a previously broken supply zone. Price filled the 1st H1 & H4 range from the H4 & daily demand zone at 1.07823 & 1.07446 to the major daily supply zone at 1.10197 & 1.09326 and back to the key H4 & daily demand zone. Price dropped into the key H4 & daily demand and faked out a break of the zone on H1 but on H4 price formed a strong rejection wick with candle close inside demand confirming the validity of the zone. Took buy positions during London session at 1.07589 with SL at 1.07280. Setup taken is a drop base rally, a reversal setup and my target is at 1.09300, the major daily supply zone at 1.10197 & 1.09326.

Price slightly consolidated at demand leaving strong rejection wicks to the downside followed by a constant bullish push out of demand forming higher highs confirming a shift in market structure to bullish. Price gained more bullish momentum during NY session rallying 60 pips to 1.08160. Price retraced during Asian session then rallied strongly to 1.08280 forming higher highs and showing more bullish potential as we approach London session. 

Price rallied 100 pips to 1.08650 forming another higher high on H1 & H4 showing a potential continuation of the rally. Price retraced back to 1.08300 forming a higher low and demand zone during late NY session yesterday. Took a scale-in buy position at 1.08317 with SL at 1.08060. Setup taken is a rally base rally, a continuation setup and my target is at 1.09300. Price retraced to retest the higher low and demand during Asian session then gained bullish momentum during London session open rallying to 1.08600 and still showing more bullish potential. I anticipate a continuation of the rally back to the major daily supply zone at 1.10197 & 1.09326 with my target at 1.09300.

Price gained stronger bullish momentum during NY session taking out the previous H1 higher high at 1.08600 and rallying higher back to the next H1 & H4 high at 1.09250 missing my 1.09300 TP by 5 pips. Price rallied 170 pips to the H1 & H4 high filling the key H1 & H4 range from the H1 & H4 high to the major H4 & daily demand zone at 1.07807 & 1.07446 and back to the H1 & H4 high. Target hit 170 pips.
R : R = 1 : 4