FX.co ★ Trading tips for EUR/USD

EUR/USD closed with a pin bar last week, following a rather strong bullish movement. The two small weekly candlesticks indicate decreasing volatility, while the pin bar suggests that buyers are slowly losing control of the market.

Looking at the chart, buyers can place their stop orders at 1.08360, which is the low of January 24 and 27.

The situation right now is not in favor of long positions, so traders should avoid buying EUR/USD at least until a false breakdown of 1.08360. Otherwise, they will fall into the trap prepared by market makers.

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.