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31.03.2023 10:41 AM
Trading tips for EUR/USD

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EUR/USD halted rally around the weekly highs, forming a distribution zone. But since an accumulation zone is yet to be reached, traders can still buy to raise the price further.

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Currently, there is a three-wave pattern (ABC), in which wave A represents the buying pressure from early this week. Traders can enter the market by opening long positions from the 50% retracement level, with stop-loss set at 1.07200. Exit by taking profit upon the breakdown of 1.09300.

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

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

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2023
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