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