FX.co ★ False breakout on the EUR/USD pair

Good afternoon traders! A trading idea for the EUR / USD pair.

Today, the EUR / USD pair pulled back below the round level of 1.18, breaking through yesterday's high.

To decrease the price of the pair, following the scheme presented below:

The market is currently trading in the area of Friday's volumes. Because of this, short positions are the most relevant, and doing it now is the most profitable option.

Thus, trade sell positions until the quote reaches a price level of 1.18500, and take profit when it breaks out of 1.17000.

Such an idea is based on the framework of Price Action and Stop Hunting strategies.

Good luck!