For Traders

Analytical Reviews

Trading plan

23.09.202210:16 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.

Previous trading tips in EUR/USD pointed to a possible increase in prices and update of the yearly low at 0.99. That is exactly what happened today, as a result of which there is now an excellent target level for traders, around the area of sell stops orders left by market makers after Fed Chairman Jerome Powell's press conference last Wednesday.

Although there is no buying pressure to rely on at the moment, there will be one when latest economic reports are published. Below is an approximate scenario for the pair:

If buying pressure arises, a three-wave pattern (ABC) will develop in EUR/USD. In that case, it is best for traders to enter the market by buying after a rebound, with stop loss set at the daily low. Exit the market on the breakdown of 0.99.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.

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.