Following EUR/USD's growth on Thursday, which was due to the ECB's rate decision and press conference, the pair saw a significant decline, but then bounced back just as trading opened again this morning. This set excellent levels for short positions in the market.
Considering that there is a three-wave pattern (ABC) in which wave A represents the selling pressure in the pair, traders should enter the market by taking short positions from the 50% retracement level. Set stop-loss at 1.07300, then exit upon the breakdown of 1.05600 and 1.04400.
This trading idea is based on the "Price Action" and "Stop Hunting" methods.
Good luck and have a nice day! Don't forget to control the risks.
