EURUSD MARKET ANALYSIS (PRE- U.S ELECTIONS)

 Hello traders, happy new month and week as we mark the start of the second last month of the financial year 2024. This month is very crucial in the markets as it brings the US elections, the anticipated Fed rate cut and many other important fundamentals that will greatly affect markets this month. Into the markets this week I am looking at EURUSD where market opened this week with a strong gap to the upside causing price to rally back to the major H1 & H4 supply zone at 1.09040 & 1.08730. Price rallied deep into the H1 & H4 supply at 1.09040 and formed a rejection with candle closes inside supply followed by a drop. Took sell positions during London session at 1.08790 with SL at 1.09200. Setup taken is a rally base drop, a reversal setup and my target is at 1.07700.