FX.co ★ Trading tips for EUR/USD

The upcoming US employment report is decisive for markets. Two scenarios could happen in EUR/USD.

The first is the formation of absorption pattern in the daily (D1 chart), where quotes will rollback by 50%.

The second is a move towards stop orders immediately after a false breakdown of the upper limit at 1.00900. This will be followed by a decline towards 0.99.

In both cases, traders should reduce volumes as volatility is likely to increase in the evening.

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

Good luck and have a nice day! Don't forget to control the risks!