Market reaction on Tuesday signaled a continued bullish sentiment in EUR/USD. Buyers prompted a false breakdown of 1.0576, while sellers remained behind the double top of December.
On lower timeframes, traders can rely on breakdowns when choosing where to enter the market.
After all, there is a three-wave (ABC) pattern in the pair, in which wave A represents the buying pressure in the market. Traders can consider long positions, with stop loss at 1.05. Take profit on the breakdown of 1.0740 and 1.0785.
This trading idea is based on the "Price Action" and "Stop Hunting" methods.
Good luck in trading and have a nice day! Don't forget to control the risks.
