FX.co ★ Tips for trading EUR/USD

The ECB's latest decision on interest rates will come out today, followed by a press conference.

At the time of writing, a trap could be seen in EUR/USD, and traders could either make use of it or, at the very least, avoid falling into it.

Traders could consider long positions from current prices and below 1.07250, with stop-loss placed at 1.21500 and 1.07134, 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.