Good afternoon traders! A trading idea for the EUR / USD pair.
Despite the general downward trend, the quotes closed positively on Thursday and Friday during the American session (shown in green in the screenshot below). This indicates the decreasing demand for the US dollar, due to the recent announcement of new measures to stimulate the US economy amid the coronavirus pandemic. More dollar means less value, so traders shorted the currency.
Take advantage of the current situation and work the EUR / USD pair according to the following scenario:
Take profit when the quotes breakout from the level of 1.13500.
The profitability from current prices is 2 to 1, in which during the day can give the best prices and, accordingly, the best profitability.
This trading idea is based on the "Price Action" and "Stop Hunting" strategies.
Have a successful trading and make sure to control the risks!
