Today I’m going to share another EURUSD liquidity pocket that could become a factor over the next few days.
The euro reached our 1.0630 target in yesterday’s video, now it’s time to see if it can repeat.
Watch the video below and scroll down for the annotated charts and analysis.
EURUSD hit my 1.0630 target as discussed in Wednesday’s commentary.
There was a significant liquidity pocket at 1.0630 as a result of the October 31st candle.
That’s the area I mentioned as a target in yesterday’s video when EURUSD was trading near the 1.0522 support.
We had FOMC to deal with yesterday, so it was far from a straightforward trade.
But ultimately, the liquidity at 1.0630 served as a magnet, as is usually the case.
I got short earlier today at 1.0663, an entry I announced in real time in the VIP group.
The next liquidity pocket for EURUSD that may become a factor is near 1.0550, or Wednesday’s lower wick.
Just like large candle bodies, long upper and lower wicks signal liquidity pockets that often serve as magnets.
Of course, there’s no guarantee.
And as mentioned in the video, it depends on where EURUSD closes today and tomorrow as to whether or not we see the euro sweep longs toward 1.0550.