Euro/Dollar forecast for today: EURUSD analysis 02.11.2022

Euro is trading down in the short-term trend. The price was testing Additional Zone 0.9928 – 0.9922 yesterday but didn’t break it out. The local low was broken through. The price will continue falling if sellers break out Target Zone 0.9881 – 0.9860 and consolidate the price below at the US session. In this case, the downside target will be Gold Zone 0.9775 – 0.9765.

If Target Zone is held up, there could start a correction. The first target in the correction will be the test of the new Additional Zone 0.9911 – 0.9905. If this AZ is broken out upside, the correction could continue up to Intermediary Zone 0.9969 – 0.9958.

Today, one could enter euro sell trades at strong resistance levels. The first target is around yesterday’s low.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 0.9911 – 0.9905.
    TakeProfit: 0.9855.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 0.9969 – 0.9958.
    TakeProfit: 0.9855.
    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.