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20.07.202311:18 Forex Analysis & Reviews: Trading tips for EUR/USD

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Exchange Rates 20.07.2023 analysis

After a two-day correction, EUR/USD started to rise, which may develop into a full-fledged three-wave movement.

Exchange Rates 20.07.2023 analysis

In the three-wave pattern, wave "A" represents today's upward movement. Traders could open long positions with a 50% retracement based on the Fibonacci level as shown in the picture above. Set stop-loss at 1.11800 and take profits upon the breakdown of 1.23 and 1.24.

The trading idea came from the "Price Action" and "Stop Hunting" methods.

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

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