The market was bullish last week, however, such growth set quite a lot of traps, which could trigger a price decrease in the near future.
In fact, there is a three wave pattern (ABC) in EUR/USD, in which wave A represents the selling pressure during the Asian session. This signals that traders should consider short positions when entering the market, especially from the 50% retracement level. Stop-loss could be placed at 1.0876, while take-profit could be set upon the breakdown of 1.0780 and 1.0730.
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.
