29.09.202309:22 Forex Analysis & Reviews: Tips for trading EUR/USD

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Following a prolonged decline and retest of the March low, EUR/USD shifted to a correction, but without updating the yearly low of 1.04830.

This suggests a possible decrease in prices, and the target could be the yearly low.

Looking at the signals, traders could consider short positions from current prices up to the level of 1.04830. Place stop-loss at 1.06060 and set take-profit upon the breakdown of 1.04830.

This trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.

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

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.