empty
 
 
23.07.2021 01:05 PM
Trading idea for EUR/USD

This image is no longer relevant

EUR / USD declined on Thursday, after the ECB announced that it would maintain a soft monetary policy. Such a sharp move formed a pin bar in the trend:

This image is no longer relevant

Considering this, it is best to sell the pair after a pull back from current prices.

This image is no longer relevant

To be more specific, since euro has a three-wave pattern (ABC), where wave A represents the selling pressure yesterday, traders should open short positions to provoke a rebound from 1.17900. Set stop loss at 1.1800, and then take profit on the breakdown of 1.17525.

This idea is in accordance with the framework of Price Action and Stop Hunting methods.

Good luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback