Euro/Dollar forecast for today: EURUSD analysis 01.07.2022

Yesterday, the euro reached the lower Target Zone 1.0422 – 1.0403. The zone was held. After that, the price corrected and tested the Intermediary Zone 1.0488 – 1.0478, which serves as the border of a short-term downtrend. Sellers’ reaction can be seen in it. They have entered sales with the target to update yesterday’s low.

If yesterday’s low is updated, there will be a high probability of price consolidation below the Target Zone. This will mean that the decline will continue with the target in the Gold Zone 1.0326 – 1.0317.

To reverse the trend and enter purchases, traders need to break out level 1.0488 and consolidate the price higher. In this case, consider purchases with the target in the upper Target Zone 1.0593 – 1.0574.

EURUSD trading ideas for today:

Sell/hold sell trades entered in the Intermediary Zone 1.0488 – 1.0478.

TakeProfit: 1.0384.

StopLoss: according to the pattern rules.

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