FX.co ★ Trading tips for EUR/USD

A false breakout occurred in EUR/USD last December 31. It was prompted by the long positions set up in the market in the past days.

The breakdown of 1.13800 turned out to be false, and today markets opened below last year's high.

In fact, the path towards 1.13800 was very difficult, as below it are stops made by buyers.

The first two targets are the November and December lows.

The third target is the 2020 low.

In this situation, it is best to abandon long positions, at least until the false breakouts of the indicated targets.

Bearish traders can also work for a fall, starting from pullbacks towards the target prices.

These trading ideas are based on the price action and stop hunting strategies.

Good luck and have a nice day!