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23.06.202212:47 Forex Analysis & Reviews: Trading tips for 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.

Active growth was noted in EUR/USD during the European trading session. However, the pair fell and closed lower during the US trading session, showing the strength of dollar in the market.

The bearish trend has not changed since June 17.

Exchange Rates 23.06.2022 analysis

In this situation, the best action is to abandon long positions, focusing on short positions with targets at yearly lows. And given that there is a three-wave pattern (ABC), where wave A represents the selling pressure last week, traders can sell up to the 50% retracement level, with stop loss at 1.07. Take profit on the breakdown of 1.03300.

This strategy is based on the Price Action and Stop Hunting methods.

Good luck and have a nice day!

Andrey Shevchenko
Analytical expert of InstaForex
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