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26.07.202212:44 Forex Analysis & Reviews: Trading tips for 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.

Exchange Rates 26.07.2022 analysis

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

Exchange Rates 26.07.2022 analysis

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.

Exchange Rates 26.07.2022 analysis

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!

Andrey Shevchenko
Analytical expert of InstaForex
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