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23.07.202113:05 Forex Analysis & Reviews: Trading idea for EUR/USD

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EUR / USD declined on Thursday, after the ECB announced that it would maintain a soft monetary policy. Such a sharp move formed a pin bar in the trend:

Considering this, it is best to sell the pair after a pull back from current prices.

To be more specific, since euro has a three-wave pattern (ABC), where wave A represents the selling pressure yesterday, traders should open short positions to provoke a rebound from 1.17900. Set stop loss at 1.1800, and then take profit on the breakdown of 1.17525.

This idea is in accordance with the framework of Price Action and Stop Hunting methods.

Good luck!

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