See also
After a two-day correction, EUR/USD started to rise, which may develop into a full-fledged three-wave movement.
In the three-wave pattern, wave "A" represents today's upward movement. Traders could open long positions with a 50% retracement based on the Fibonacci level as shown in the picture above. Set stop-loss at 1.11800 and take profits upon the breakdown of 1.23 and 1.24.
The trading idea came from the "Price Action" and "Stop Hunting" methods.
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.
On Friday, the GBP/USD currency pair was trading in a downtrend. The price easily broke through the Senkou Span B and Kijun-sen lines, as well as worked through the 1.3420
On Friday, the EUR/USD currency pair once again traded with low volatility but demonstrated nearly perfect technical behavior. There was little news during the day, with the only noteworthy report
Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair exhibited a relatively strong decline, triggered by weak business activity indices in the UK. However, this explanation
Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair showed no significant movements on Thursday and remained in low volatility, despite it being the most eventful
On Thursday, the GBP/USD currency pair traded lower, which can be considered a local correction. This movement will cease to be a correction only if the price consolidates below
On Thursday, the EUR/USD currency pair exhibited astonishingly low volatility and a complete unwillingness to move in any clear direction. Many traders were expecting active movements during
Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair also continued its upward movement on Wednesday. As expected, this happened without the need for any news or reports
Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair continued its upward movement. Essentially, we are seeing the same pattern every day this week —
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