FX.co ★ Tips for trading EUR/USD

EUR/USD went into a correction after a prolonged bullish trend. It happened right after the release of key US statistics and before Thanksgiving Day.

Dollar demand rose after the news, bringing the pair's quotes to a breakdown, from which a correction can be expected.

With this, traders could consider long positions, with stop-loss set at 1.08255. Take profit upon the breakdown of 1.08970, 1.09223, and 1.09385.

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.