FX.co ★ Trading tips for EUR/USD

EUR/USD bounced up, after sliding quite strongly on Monday. This signals traders to expect another price decrease in the pair.

Now, there is a three-wave pattern (ABC), in which wave A represents the bearish pressure in the market. Traders should look at this and start selling from the 50% retracement level, with a stop-loss order set at 1.0927. Exit the market by taking-profit upon the breakdown of 1.0846, 1.0765 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.