FX.co ★ Tips for trading EUR/USD

EUR/USD edged lower after the US released stronger-than-expected statistics. It offset the increase that came when the ECB announced another rate hike. However, considering that seller liquidity below 1.07700 remains untouched, traders could take long positions, following this scenario:

Consider long positions from the breakdown, with stop-loss placed at 1.06332 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.