FX.co ★ Trading tips for EUR/USD

Although yesterday's selling pressure broke the upward momentum in EUR/USD, there is still the support-resistance level, behind which are buyers' stop orders.

This, along with the three-wave pattern (ABC) in euro, opens the opportunity for traders to enter the market by selling according to the scheme shown above. Set stop-loss at 1.05900 or after the false breakdown of 1.05182, then exit upon the breakdown of 1.04373.

This 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.