Euro/Dollar forecast for today: EURUSD analysis 01.11.2022

EURUSD reached the primary downside target in the short-term downtrend yesterday. The market reached the lower Target Zone 0.9881 – 0.9860. After reaching the Target Zone, the price has been corrected and is now testing the Additional Zone 0.9928 – 0.9922.

The Additional Zone is a strong resistance level, where one could enter new sell trades. The downside target will be yesterday’s low.

If the price breaks out the Additional Zone upside, the correction will continue up to the Intermediary Zone 0.9986 – 0.9975. The IZ is the border of the short-term downtrend, so one could also enter sell trades there when the zone is reached by the price.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 0.9928 – 0.9922.
    TakeProfit: 0.9875.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 0.9986 – 0.9975.
    TakeProfit: 0.9875.
    StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.