FX.co ★ Tips for trading EUR/USD

EUR/USD saw a false breakout of the weekly highs during Wednesday's US session.

This left behind quite massive liquidity, which the pair is likely to go for in the near future.

And since there is a three-wave pattern (ABC) where wave A is the selling pressure observed yesterday, traders could enter the market today by opening short positions from the current prices up to the 50% retracement level. Set stop-loss at 1.11, and then exit by taking profit upon the breakdown of 1.10300, 1.09825, and 1.09075.

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

Good luck and don't forget to control the risks! Have a nice day.