EURUSD & TQQQ MARKET ANALYSIS

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 Good morning traders, it's a bright Tuesday morning and I'm looking at trading opportunities on EURUSD and TQQQ. TQQQ is a Nasdaq stock ETF and I'll be introducing analysis on it here on the blog as among the instruments on my watchlist. TQQQ price broke above the major H4 supply zone at 101.24 & 100.20 and formed higher highs on H4 at 103.00. Price retraced to retest the broken supply as a new demand before a potential continuation of the rally higher. Took buy positions during NY session at 102.53 with pending buy limits at 101.20. Setup taken is a rally base rally, a continuation setup and my target is at 108.00. 





EURUSD price dropped back into a major H4 & daily demand zone at 1.17900 & 1.17500 and faked out a break below the zone through candle closes below on H1 & H4 but on the daily formed a strong rejection with candle closes inside the zone followed by a rally by a strong H1 & H4 bullish engulfing candle. Price rallied by a constant push away from demand confirming the potential shift in market structure to bullish. Took buy positions during London session at 1.17750 with SL at 1.17470. Price rallied out of demand and formed higher highs on H1 & H4 with candle closes above demand followed by a retest of demand. Took buy scale -in positions during London session at 1.17915 with SL at 1.17670. Setup taken is a drop base rally, a reversal setup and my target is at the next major H4 high at 1.19000. 



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