FX.co ★ Tips for trading EUR/USD

EUR/USD plummeted on Wednesday, following the release of strong CPI data in the US. Towards the end of the US session, it bounced up, creating a bullish reversal. The pair now trades above this area.

Buy euro and work for a rebound based on the plan indicated in the chart. Set stop-loss at 1.09016 and take profit upon the breakdown of 1.09476.

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.