After the test of the Intermediary Zone, the euro continued falling yesterday. The low of November 1 was broken through, and the price broke out Target Zone 0.9881 – 0.9860. The market is approaching the next downside target in the Gold Zone 0.9775 – 0.9765.
If the Gold Zone is broken out downside and the price consolidates below at the US session, the next sell target will be the Target Zone 2, 0.9669 – 0.9648.
One could enter new euro short trades on the correction to the strong resistance levels, the Additional Zone 0.9837 – 0.9832 and the Intermediary Zone 0.9896 – 0.9885. To enter a short trade, there should be a sell pattern. The first target will be today’s low.
EURUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 0.9837 – 0.9832.
TakeProfit: 0.9780.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 0.9896 – 0.9885.
TakeProfit: 0.9780.
StopLoss: according to the pattern rules.
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