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Hi, dear traders! Let me share a trading idea for EUR/USD based on the breakout strategy.
Today, the instrument has approached a one-week low for the second time but failed to break through.
I suggest we place a pending sell-stop order at the level of 1.09517, following the setup shown in the screenshot below.
I propose to set a stop loss 300 pips up and a take profit 200 pips down.
This trading idea has been devised on the grounds of the Breakout trading strategy and the Stop Hunting strategy.
Good luck in your trading, and remember to manage your risks!
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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 Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair continued its upward movement on Wednesday, following the new trend. Recall that the price had settled below the previous
Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair traded with low volatility and an upward bias. We anticipated that the macroeconomic background would
On Wednesday, the GBP/USD currency pair also traded higher, although volatility remained low. Nevertheless, the British pound rose throughout the day. While there were no strong reasons for this during
Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair experienced only a slight decline, likely due to technical factors. Even on the hourly timeframe, it's clear
On Tuesday, the GBP/USD currency pair also showed a downward movement, although the decline and the day's volatility were relatively weak. Once again, the market effectively ignored the macroeconomic background
The EUR/USD currency pair started a weak downward movement on Tuesday, likely due to another mild corrective wave. Despite breaking through the trendline, the overall upward trend remains intact because
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