FX.co ★ Tips for trading EUR/USD

EUR/USD edged higher last week, and it could continue moving upward after the announcement of the CPI data in the US.

Friday's inside bar can be taken as a reference for working on a price increase.

Looking at the three-wave pattern (ABC), where wave A represents Friday's movement, traders could consider taking long, with stop-loss set at 1.06760. Take profit upon the breakdown of 1.07568.

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.