FX.co ★ Trading idea for EUR/USD

Demand for euro continues to decrease, so now its price is nearing the yearly low, which is 1.17. And since support is just 100 pips below, at 1.16, then trading will most likely happen around 1.17-1.16 today.

In the hourly chart (H1), buyers are around 1.17500, so most likely sellers will girdle it to put some pressure on the market.

If such happens, refrain from opening long positions because there is simply nowhere to place stop loss beyond 1.17500 and 1.1600.

(Price Action and Stop Hunting were used to formulate this trading idea)

Good luck!