FX.co ★ Tips for trading EUR/USD

Good day, traders! After showing strong upward momentum in mid-May, EUR/USD fell down and traded at the 50% retracement level.

Even so, the trend is still bullish as the price remains within the earlier pattern (ABC).

In the pattern, wave "A" is a representation of the buying pressure last Friday. This means that traders could enter the market by opening long positions from breakout areas, with stop-loss set at 1.07600. Exit by taking profit upon the breakout of 1.08300, 1.08500, and 1.11000.

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.