FX.co ★ Trading tips for EUR/USD

The sell-offs in EUR/USD broke the trend, shifting it from bullish to bearish, with a target of reaching a new yearly low.

Given that there is a three-wave pattern (ABC), where wave A represents the selling pressure yesterday, traders can sell from current prices up to the 50% retracement level. Set stop loss at 1.0603 and take profit on the breakdown of 1.3300.

This strategy is based on the Price Action and Stop Hunting methods.

Good luck and have a nice day!