FX.co ★ Trading tips for EUR/USD

EUR/USD closed with a pin bar last week, thanks to the bullish movement last February 15, which was prompted by Christine Lagarde's statements.

The pattern signals the emergence of a strong upward trend, which can start as early as this week.

The chart shows that EUR/USD has pulled back to the 50% retracement level, and the third upward wave is forming. In this situation, it is best to avoid taking short positions, else, you will lose profit.

That being the case, traders should take long positions and set their target at 1.15. Exit the market after a breakdown, but leave a small part for the movement towards 1.19, our second target.

The trading idea is based on the "Price Action" and "Stop Hunting" strategies.

Good luck and have a nice day!