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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 Friday's Trades 1H Chart of GBP/USD On Friday, the GBP/USD pair showed extremely low volatility, yet the British pound steadily crept upward even with such market conditions
Analysis of Friday's Trades 1H Chart of EUR/USD The EUR/USD currency pair showed no movement on Friday. It was Good Friday, and Easter Sunday followed. As a result, many countries
The GBP/USD currency pair traded higher again on Friday, albeit with minimal volatility. Despite the lack of important events in the U.S. or the U.K. that day (unlike earlier
Analysis of Thursday's Trades 1H Chart of GBP/USD The GBP/USD pair continued to trade higher throughout Thursday. Even at its peak levels, the British pound shows no intention of correcting
Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair continued trading within a sideways channel on Thursday, as shown on the hourly timeframe chart above. The current
The GBP/USD currency pair continued its upward movement on Thursday, trading near multi-year highs. Despite the lack of significant events in the U.S. or the U.K. (unlike Wednesday), the market
The EUR/USD currency pair continued to trade sideways on Thursday. While previously it had been moving within a range between 1.1274 and 1.1391, on Thursday, it was stuck
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