FX.co ★ Tips for trading EUR/USD

Following the strong bearish momentum during the recent US session, EUR/USD went into a correction, leaving the buyers' area untouched in the form of a double bottom between November 8 and 9. This can be used as reference for trading positions today.

Looking at the three-wave pattern (ABC), where wave A represents yesterday's movement, traders could consider short positions, with stop-loss set at 1.07255. Take profit upon the breakdown of 1.06580.

The 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.