FX.co ★ Trading tips for EUR/USD

EUR/USD declined strongly last week and went into consolidation. Fed Chairman Jerome Powell's speech at the Jackson Hole symposium today will most likely trigger a further price decrease.

Since recent movements formed a three-wave (ABC) pattern, where wave A represents the selling pressure yesterday, traders can enter the market by selling from 0.99800 and beyond. Exit the market on the breakdown of 0.99400 and 0.99000.

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

Good luck and have a nice day!