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03.03.202113:07 Forex Analysis & Reviews: Trading idea for EUR/USD

Exchange Rates 03.03.2021 analysis

EUR / USD underwent a correction on Monday, which can be used to profitably enter a decline within the large three-wave structure formed in the H4 chart.

Exchange Rates 03.03.2021 analysis

To put it more precisely, since the quotes form a wave pattern (ABC), where wave A is the bearish initiative observed from February 25 to March 2, traders can open short positions from 1.21, the target of which is a 50% retracement. Limit should be placed at 1.22, and then take profit as soon as the quote breaks below 1.19500.

Of course, traders still need to be careful to avoid losing money. Trading in this market is very precarious, but also profitable provided that the approach used is correct.

Good luck!

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Andrey Shevchenko,
Especialista em análise
do Grupo InstaForex © 2007-2021
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