17.01.202310:27 Forex Analysis & Reviews: Trading tips for EUR/USD

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After a sluggish trading on Monday, EUR/USD went into consolidation with rather clear upper and lower limits. This opens an opportunity for traders to enter the market after a false breakdown.

Considering that there is a three wave pattern (ABC) in the pair, in which wave A represents the selling pressure yesterday, traders could enter the market by selling after the false breakdown of 1.0837, aiming towards 1.0851. Stop-loss could be placed at 1.0874, while take-profit could be set upon the breakdown of 1.08, 1.0780 and 1.0730.

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

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

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