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22.06.2023 04:33 PMAfter a prolonged rally, a correction began in EUR/USD, which could develop into a downward trend.
Considering the three-wave pattern (ABC), traders could open short positions with a 50% retracement based on the Fibonacci levels. Limit risks at 1.10, and then take profit upon the breakdown of 1.08.
The trading idea came from the framework of the "Price Action" and "Hunt for Stops" strategies.
Good luck in trading and in managing the risks. Have a great day ahead!
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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