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