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Exchange Rates 01.07.2020 analysis

Good afternoon traders! A trading idea for the EUR / USD pair.

As part of the general short-term trend, a false breakout occurred yesterday during the US session, in which the market closed even lower.

Open short positions to further decrease the quotes of the pair, following the trading idea below:

Exchange Rates 01.07.2020 analysis

The first target is the area of buyer's stops for the last 4 trading days, which are also the weekly stops of the pair.

Below it is the second target, which is the local high reached this June.

Cancel the idea if the quotes pass the high that was reached yesterday.

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

Have a successful trading and make sure to control the risks!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Andrey Shevchenko,
Analytical expert
InstaForex Group © 2007-2020
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