Trading idea for EUR/USD
Euro initially rallied amid the announcement of unchanged ECB policy, but then on the US trading session, price reversed and formed a bearish pin bar on the daily chart.
To follow this short scenario and push EUR / USD further down in the market, use Elliott Wave Theory to find which levels to set up positions.
Thus, view yesterday’s impulse as wave A, and open short positions after a pullback from the current prices.
Take profit after a breakout from 1.1755, and then around price level 1.17.
This idea shall remain profitable until the quote consolidates above 1.19.
Of course, controlling the risks is also necessary in order to avoid any losses.
Best of luck!
The material has been provided by InstaForex Company – www.instaforex.com