EURUSD MARKET ANALYSIS

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 Good morning traders, it's another Monday the start of a new trading week meaning new opportunities in the markets. Into the markets today, I'm looking at EURUSD where market opened the week inside a key H1 & H4 supply zone at 1.10000 & 1.09790 which is the origin of the previous drop to the 1st H1 low at 1.09130. Market consolidated between the key H1 & H4 supply and the H1 low at 1.09116 hence filling the minor H1 range from the key H1 & H4 supply zone to the H1 low and back to the key H1 & H4 supply zone. Price formed a rejection wick with candle close inside supply followed by a drop in 2 strong H1 bearish candles during Asian session confirming the bearish sentiment. 
Took sell positions during pre-London session at 1.09764 with SL at 1.10030. Setup taken is a rally base drop, a reversal setup and my 1st target is at the 1st H1 low at 1.09116 before price either shifts and reverses or breaks and continues with the drop.









 

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