Euro/Dollar forecast for today: EURUSD analysis  02.05.2022

The short-term euro downtrend continues. Last Friday, traders tested the Intermediary Zone, 1.0576 – 1.0567 but were unsuccessful. Today the price tested the Gold Zone, 1.0512 – 1.0503.

Euro is trading in the range between levels 1.0576 and 1.0503. For the instrument to grow, the breakout of the resistance level of 1.0576 and price consolidation higher is required. For the EURUSD fall, wait for the breakout of the Gold Zone, 1.0512 – 1.0503 and the price consolidation below. In the first case, the purchase target will be the upper Target Zone, 1.0682 – 1.0663. In the second case, the target for sales will be the Target Zone 4, 1.0416 – 1.0397.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0576 – 1.0567.

TakeProfit: 1.0475.

StopLoss: according to the pattern rules.

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