After the release of strong data on US employment, demand for dollar rose, leading to a fall in EUR/USD.
The closing of the pair with an absorption last Friday created promising targets around the two-week buy stops.
This can be used as a reference when working for a further decline in the market.
Considering that recent price movements formed a three-wave (ABC) pattern, where wave A represents the bearish pressure last Friday, traders can enter the market by selling up to the 50% retracement level, with stop loss at 1.2350. Exit the market on the breakdown of 1.01400, 1.01220 and 1.01
This trading idea is based on the "Price Action" and "Stop Hunting" methods.
Good luck and have a nice day!
