FX.co ★ Trading tips for EUR/USD

After rising on Monday, EUR/USD pulled back during today's Asian session. Traders should consider taking short positions to lower further the price.

As there is a three-wave (ABC) pattern, in which wave A represents the bearish pressure during the Asian session, traders can enter the market by selling according to the picture above. Set stop-loss at 1.06200, and then exit by taking-profit at the breakdown of 1.05800.

The 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.