FX.co ★ Trading tips for EUR/USD

As expected, EUR/USD broke through the August high of 1.03800 and closed below this level.

Now, the market has pulled back, creating favorable opportunities for short positions.

And since there is a three-wave pattern (ABC), where wave A represents the bearish pressure yesterday, traders could open short positions up to the 50% retracement level. Set stop loss at 1.04700 or after a false breakdown at 1.03900, then exit the market on the breakdown of 1.2600

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

Good luck and have a nice day! Don't forget to control the risks!