FX.co ★ Trading tips for EUR/USD

Previous trading plans in EUR/USD recommended taking long positions in order to raise quotes. This gave the opportunity to buy on significant rollbacks; however, until now, the target price level has not been reached.

The scenario could happen as early as this week.

All buy positions were made during the US session:

Sellers, meanwhile, are trapped and can limit risks only beyond the technical level of 1.02800.

In this situation, the best move is to abandon short positions, with stop loss beyond 1.02800. Do so until a false breakout, or until the first test of the resistance level of 1.03600.

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

Good luck and have a nice day!