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16.01.2023 02:33 PM
Trading tips for EUR/USD

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The market was bullish last week, however, such growth set quite a lot of traps, which could trigger a price decrease in the near future.

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In fact, there is a three wave pattern (ABC) in EUR/USD, in which wave A represents the selling pressure during the Asian session. This signals that traders should consider short positions when entering the market, especially from the 50% retracement level. Stop-loss could be placed at 1.0876, while take-profit could be set upon the breakdown of 1.0780 and 1.0730.

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

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

Andrey Shevchenko,
Analytical expert of InstaForex
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