Dollar plummeted, following the release of interest rate forecasts for the US. This led to a rally in EUR/USD. However, the pair entered a brief correction after failing once again to reach the November high.
Market players could take this opportunity to provoke a further upward move in the pair.
Consider long positions from the breakdown and set stop-loss at the level of 1.20906. Take profit upon the breakdown of 1.10170.
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.
