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06.08.202010:44 Forex Analysis & Reviews: Trading idea for the EUR/USD pair

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

The recent rise of the euro led to an update of the 1.19 high, after which a false breakout occurred in the 1-hour TF.

In order to decrease the price of the EUR / USD pair, short positions should be taken, trading within the ABC wave pattern. The target price is the level of 1.17, which is also the limit order of medium-term bulls.

The total movement should amount more than 2,000 pips, as the wave structure itself is already 1,000 pips.

The framework of this idea is the classic Price Action and Stop Hunting strategies.

Good luck!

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