FX.co ★ Tips for trading EUR/USD

After the release of mixed data on the US labor market, dollar lost its position, giving rise to a strong bullish momentum in EUR/USD. This may continue in the coming week.

Considering the three-wave (ABC) pattern where wave "A" represents the upward movement seen last Friday, market players can take buy positions up to the 50% retracement level. Place stop-loss at 1.09200 and take-profit on the breakout of 1.10500.

This plan came from the framework of the Price Action and Stop Hunting strategies.

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