FX.co ★ Tips for trading EUR/USD

A bull trap emerged in EUR/USD, following Friday's bearish momentum.

Having a three-wave pattern (ABC), where wave A represents Friday's price decrease, traders could open short positions with a 50% retracement based on the Fibonacci levels. Limit the risks at 1.09700, and then take profit upon the breakdown of 1.09189 and 1.08.

The trading idea came from the framework of the "Price Action" and "Hunt for Stops" strategies.

Good luck in trading and manage your risks. Have a great day ahead!