Euro/Dollar forecast for today: EURUSD analysis 04.04.2023

The EURUSD short-term downtrend continues. The price is testing the resistance zone 1.0929 – 1.0872. Unless this zone is broken out, the downtrend will continue, and the price will go below the low of April 3. When the low of April 3 is broken through, the next downside target will be the low of March 24. When the indicated low is also broken though, the next target in the downtrend will be the lower Target Zone 1.0611 – 1.0579.

If the price breaks out level 1.0929 and consolidates above, the short-term trend will turn up. In this case, one could enter long trades with a target in the upper Target Zone 1.1062 – 1.1031.

EURUSD trading ideas for today:

Sell according to the pattern in the zone of 1.0929 – 1.0872.
TakeProfit: 1.0715.
StopLoss: according to the pattern rules.

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