Euro/Dollar forecast for today: EURUSD analysis 03.08.2022

The EURUSD short-term trend turned down. The Intermediary Zone 1.0187 – 1.0177 was broken out yesterday. Today, the upside target will be the lower Target Zone 1.0081 – 1.0060.

I recommend entering sell trades at the strong resistance levels, such as the Additional Zone 1.0208 – 1.0203 and the Intermediary Zone 1.0266 – 1.0256. The IZ is the trend border; as long as the price is trading below the zone, the trend will remain down. A part of sell trades could be exited at the breakthrough of the local lows.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.0208 – 1.0203.
    TakeProfit: 1.0151.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.0266 – 1.0256.
    TakeProfit: 1.0151.
    StopLoss: according to the pattern rules.

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