FX.co ★ Trading tips for EUR/USD

As indicated on the previous trading plan in EUR/USD, quotes rose after the press conference of the Federal Reserve. However, the target price level, which is 1.02774, is yet to be broken, so there is still a chance for those who do not have trading positions to catch up.

Given that euro's movements formed a three-wave (ABC) pattern, where wave A represents the buying pressure yesterday, traders can enter the market by buying up to the 50% and 61.8% retracement levels, with stop loss at 1.01. Exit the market on the breakdown of 1.02780.

The trading idea was based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day!