Dollar continued to weaken after the release of interest rate forecasts for the US. This led to a rally in EUR/USD, with the pair approaching the November high of 1.1017. Although a breakdown did not occur, sellers found themselves trapped at the level.
Market players could take this opportunity to provoke a further upward move in the pair.
Consider long positions, with stop-loss set at the marks on the chart. Take profit upon the breakdown of 1.1017.
The trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.
Good luck in trading and don't forget to control the risks! Have a nice day.
