FX.co ★ Trading tips for EUR/USD

EUR/USD has been in consolidation for the past few days, where both buyers and sellers are taken out at intraday stops.

Weekly buyers, on the other hand, remained untouched, thanks to the short positions taken by traders during the US session. The best move in this situation is to decrease the price of euro.

Considering that the pair's movements formed a three-wave (ABC) pattern, where wave A represents the selling pressure yesterday, traders can enter the market by selling after the rebound, with stop loss at 1.02550. Exit the market on the breakdown of 1.01200.

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

Good luck and have a nice day!