FX.co ★ Tips for trading EUR/USD

Dollar plummeted after the release of the unemployment data in the US. This led to an increase in EUR/USD, followed by a correction. The pair will likely resume its growth after the movement.

Looking at the three-wave pattern (ABC) in which wave A represents Friday's bullish momentum, market players could open long positions from the breakdown and set stop loss at 1.0875. Take profit upon the breakout of 1.1015, 1.11, and 1.1139.

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.