As expected , a reversal pattern developed in the EUR / USD daily chart. But yesterday a pin bar was formed, in front of which there is an ideal area for sellers for two months - 1.19. And based on Stop Hunting strategy, it would be best to take this opportunity to trade long positions.
Since there is a three-wave pattern (ABC) where wave A is the buying pressure observed at the end of August, investors can take long positions and take profit on the breakdown of 1.19.
This analysis is based on Price Action and Stop Hunting strategies.
Today is also an important day because of the upcoming report on US CPI. The data could provoke a significant increase in market volatility.
Good luck and have a nice day!
