EUR/USD closed with an almost complete absorption, so buyers had to limit their risks after the April low below 1.04700. Most likely, today's unemployment data will also add volatility to the market.
Considering that euro is currently at the historical lows of 2016, it is better to avoid long positions, at least until the breakdown of 1.04700.
This trading idea is based on the Price Action and Stop Hunting strategies.Good luck and have a nice day!
