FX.co ★ Trading tips for EUR/USD

EUR/USD closed with a pin bar yesterday, signaling an impending price decrease.

It formed after selling pressure increased during the US session.

This scenario can be used as a reference when working for a further decline in the market.

Considering that recent price movements formed a three-wave (ABC) pattern, where wave A represents the bearish pressure yesterday, traders can enter the market by selling up to the 50% retracement level, with stop loss at 1.02200. Exit the market on the breakdown of 1.01400, 1.01230, 1.01.

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

Good luck and have a nice day!