13.09.202309:12 Forex Analysis & Reviews: Tips for trading EUR/USD

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The upward momentum observed in EUR/USD during yesterday's US session confirms seller liquidity at the mirror level of 1.07700. This, along with today's inflation data in the US, may prompt another increase in the pair.

Looking at the three-wave pattern (ABC), where wave A represents yesterday's bullish movement, traders could open long positions with stop-loss palced at 1.07070 and take-profit set on the breakdown of 1.07700.

This trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.

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

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.