FX.co ★ Trading tips for EURUSD

The last trading day of 2022 closed with good trades, which received a negative reaction at the end of the Asian session. This is a recurring phenomenon when a year ends and another one starts. I propose a downward trading idea along the lines of:

In fact, there is a three-wave pattern (ABC) in which wave A represents the bearish initiative during the Asian session.

I suggest you consider short positions with a pullback of 50% Fibo according to what is shown above.

The risks are limited to 1.07130. Profit should be locked in at the breakdown of 1.06355, 1.05700 and 1.04400.

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

Good luck! Don't forget to control the risks.