FX.co ★ Tips for trading EUR/USD

Good day, traders! There was a massive decline in EUR/USD during yesterday's US session, which broke the bullish momentum that has been going on for the past few days.

Now that there is a three-wave pattern (ABC), where wave A represents the downward movement seen on Monday, it would be best for traders to take up short positions up to the 50% retracement level. Set stop loss at 1.10300, and then take profit upon the breakdown of 1.09600 and 1.09000

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.