FX.co ★ Trading idea for EUR/USD

Trading idea for EUR/USD

Trading idea for EUR/USD

EUR / USD declined on Thursday, after the ECB announced that it would maintain a soft monetary policy. Such a sharp move formed a pin bar in the trend:

See also: Start Forex trading with a European level broker!
Trading idea for EUR/USD

Considering this, it is best to sell the pair after a pull back from current prices.

Trading idea for EUR/USD

To be more specific, since euro has a three-wave pattern (ABC), where wave A represents the selling pressure yesterday, traders should open short positions to provoke a rebound from 1.17900. Set stop loss at 1.1800, and then take profit on the breakdown of 1.17525.

This idea is in accordance with the framework of Price Action and Stop Hunting methods.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account