logo

FX.co ★ Trading tips for EUR/USD

Trading tips for EUR/USD

Trading tips for EUR/USD

After a sluggish trading on Monday, EUR/USD went into consolidation with rather clear upper and lower limits. This opens an opportunity for traders to enter the market after a false breakdown.

Trading tips for EUR/USD

Considering that there is a three wave pattern (ABC) in the pair, in which wave A represents the selling pressure yesterday, traders could enter the market by selling after the false breakdown of 1.0837, aiming towards 1.0851. Stop-loss could be placed at 1.0874, while take-profit could be set upon the breakdown of 1.08, 1.0780 and 1.0730.

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

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account