Euro/Dollar forecast for today: EURUSD analysis 01.12.2021

As part of a short-term uptrend, the euro price reached the Target Zone 1.1379 – 1.1362 yesterday. After reaching the TZ, large purchases were closed and a correction began. As part of the correction, the traders tested the Intermediary Zone 1.1294 – 1.1286 and the support level of 1.1260. As a result, the zone formed by the IZ and the support level was held by buyers. The price returned to the key support.

Today, the short-term uptrend continues. The update of yesterday’s high serves as the growth target. Look for buy patterns today.

An alternative scenario for entering sales in the lower Target Zone 1.1206 – 1.1189 will work out only if the Intermediary Zone 1.1294 – 1.1286 is broken out.

EURUSD trading ideas for today:

Open buy positions according to the pattern in 1.1294 – 1.1260.

TakeProfit: 1.1380.

StopLoss: according to the pattern rules.

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