FX.co ★ Trading tips for EUR/USD

EUR/USD's growth on Tuesday confirms the weakening trend of dollar during the US sessions, despite positive PMI data. It also suggests that market players should consider long positions when entering the market.

Currently, there is a three-wave pattern (ABC), in which wave A represents bullish pressure. This means that traders should buy from the 50% retracement level, with a stop-loss order set at 1.0835. Exit the market by taking-profit upon the breakdown of 1.0927.

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.