Euro/Dollar forecast for today: EURUSD analysis 01.02.2022

Euro buyers are trying to reverse the short-term trend up by breaking out the key resistance 1.1218 – 1.1209. If today the US trading session closes the price above the level of 1.1218, then the trend will reverse up, and the upper Target Zone 1.1315 – 1.1297 will become the target for purchases. In this case, from tomorrow, look for an opportunity to buy the instrument.

If buyers fail to consolidate the price above the Intermediary Zone, and it returns below the resistance level of 1.1209 at the US trading session, return to the priority sale scenario from tomorrow. In this case, wait for a reversal pattern to open trades with a target at the January 28 low.

EURUSD trading ideas for today:

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