Euro/Dollar forecast for today: EURUSD analysis 02.03.2022

The chart shows that the EUR/USD rate declines due to Ukrainian events. Yesterday, the short-term trend reversed down. As a result, the Target Zone 1.1098 – 1.1080 was reached. After that, large sales were closed, and the price corrected. As a result of yesterday’s correction at the end of the American session, an Additional Zone 1.1142 – 1.1137, which serves as a strong resistance, was tested.

Now the price is decreasing due to the AZ test. The target of the price fall is the update of yesterday’s low. When this goal is reached, key resistance zones should be rearranged. If the price consolidates below the Target Zone, the next target for sales will be the Gold Zone 1.1010 – 1.1000.

Today, it is profitable to look for sales at the resistance levels indicated above with the target at yesterday’s low.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.1142 – 1.1137.

    TakeProfit: 1.1091.

    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.1195 – 1.1185.

    TakeProfit: 1.1091.

    StopLoss: according to the pattern rules.

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