Euro/Dollar forecast for today: EURUSD analysis 03.02.2022

Yesterday, the euro reached the upper Target Zone 1.1315 – 1.1297 as part of a short-term uptrend. It was not possible to break out the TZ. Now the price is trading in the correction. The target of the correction is to test the Additional Zone 1.1285 – 1.1281. After the AZ test, look for a buy pattern again with a target at yesterday’s high.

If yesterday’s high is updated, the Target Zone will be broken out. This means that the next target for purchases will be the Gold Zone 1.1394 – 1.1385.

If today the Additional Zone is broken out downside, the price will go into a deep correction with the target in the Intermediary Zone 1.1241 – 1.1233.

EURUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1.1285 – 1.1281.

    TakeProfit: 1.1329.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1.1241 – 1.1233.

    TakeProfit: 1.1329.

    StopLoss: according to the pattern rules.

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