See also
The target for EUR/USD continues to be the sellers' area at the level of 1.09, especially after the weak GDP data in the US.
Opening long positions in lower timeframes will allow such a movement to develop.
Buy euro to work for a pullback towards the breakdown area. Set stop-loss at 1.08 and take profit upon the breakout of 1.09.
The trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.
Good luck in trading and don't forget to control the risks! Have a nice day.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analysis of Monday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded in both directions on Monday. On Friday, the price consolidated below the ascending trendline, formally changing
Analysis of Monday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded with low volatility and in both directions on Monday. That day, the macroeconomic backdrop was practically absent
On Monday, the GBP/USD currency pair predictably failed to continue its downward movement. Recall that earlier, the price again formed a signal for a trend reversal to bearish—a consolidation below
The EUR/USD currency pair traded mixed throughout Monday. Despite breaking through the trendline, the downward movement (i.e., strengthening the US dollar) never actually began. Thus, technical signals still hold little
Analysis of Friday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded lower on Friday for the same reasons as the EUR/USD pair. The dollar received minimal market support
Analysis of Friday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded lower on Friday, and there were objective reasons for this. However, it's important to note that
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