FX.co ★ Trading tips for EUR/USD

EUR/USD bounced back after a strong weekly decline.

And since there are three wave patterns in the pair (ABC) where wave A represents the buying pressure observed yesterday, traders can take long positions up to the 50% retracement level of 1.13150. Stop loss could be set at 1,12700, and take profit on the breakdown of 1.13900-1.14000.

This analysis is based on the Price Action and Stop Hunting strategies.

Good luck and have a nice day!