FX.co ★ Trading idea for EUR/USD

EUR/USD continues to rally ahead of the ECB meeting this week. It hit a new high and also grabbed the top that was reached last July 7. Obviously, traders are expecting interest rates to shift in a positive direction.

Besides the price increase, the movement also created good areas for buyers, such as 1.01154, which the pair could go to in case of a rebound. But for this to happen, there should be bearish initiatives in lower timeframes.

The pair will form a small ABC pattern first before the price could reach 1.01154

This trading idea is based on the "Price Action" and "Stop Hunting" strategies.

Good luck and have a nice day!