FX.co ★ Tips for trading EUR/USD

Good day, traders!

Demand for euro rose after the release of the US employment report last Friday. Now, it is trading above the previous price levels, but sellers' liquidity remained untouched.

In any case, considering that there is a three-wave pattern (ABC), where wave A represents the upward movement observed last Friday, traders could enter the market by buying up to the 50% retracement level, with stop loss set at 1.097. Exit by taking profit upon the breakdown of 1.110.

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.