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Hi, dear traders! Let me share a trading idea for EUR/USD based on the breakout strategy.
Today, the instrument has approached a one-week low for the second time but failed to break through.
I suggest we place a pending sell-stop order at the level of 1.09517, following the setup shown in the screenshot below.
I propose to set a stop loss 300 pips up and a take profit 200 pips down.
This trading idea has been devised on the grounds of the Breakout trading strategy and the Stop Hunting strategy.
Good luck in your trading, and remember to manage your risks!
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair closely followed the movements of the EUR/USD pair, further confirming that the current situation hinges
Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair traded in a mixed manner. During the day, the price changed direction several times, and macroeconomic
On Wednesday, the GBP/USD currency pair followed the same trend as the EUR/USD pair. The British pound also plummeted sharply overnight following two statements from Donald Trump, then quickly recovered
The EUR/USD currency pair traded in both directions throughout Wednesday, constantly changing its trajectory. The trading day began with a price collapse following Donald Trump's announcement that he would
Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair declined rather significantly on Tuesday. While the pound's drop began somewhat sluggishly, in the evening, Donald Trump finally decided
Analysis of Tuesday's Trades 1H Chart of EUR/USD The EUR/USD currency pair showed a relatively substantial decline on Tuesday. Euro quotes fell almost throughout the day, with the move intensifying
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