FX.co ★ Tips for trading EUR/USD

The upward momentum observed in EUR/USD during yesterday's US session confirms seller liquidity at the mirror level of 1.07700. This, along with today's inflation data in the US, may prompt another increase in the pair.

Looking at the three-wave pattern (ABC), where wave A represents yesterday's bullish movement, traders could open long positions with stop-loss palced at 1.07070 and take-profit set on the breakdown of 1.07700.

This trading idea follows 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.