FX.co ★ Trading tips for EUR/USD

The article published last November 19 outlined a bullish scenario through a false breakout of the November 17 low. Because of that, EUR / USD left good sell levels at 1.13800 - 1.14.

But for now, there are two target levels ahead - 1.1324 and 1.13870.

Since there are three wave patterns in the pair (ABC) and wave A represents the buying pressure in the market, traders can open long positions from the current prices. Stop loss could be set at 1.12500, and take profit on the breakdown of 1.1324 and 1.1387.

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

Good luck and have a nice day!