Euro/Dollar forecast for today: EURUSD analysis  04.05.2022

The EURUSD price remains in the range of 1.0576 – 1.0567.

Sales require the breakout of level 1.0503 and price consolidation below. In this case, the target for sales will be the Target Zone, 1.0416 – 1.0397.

The short-term trend reversal up is required for purchases. This will become possible after the breakout of level 1.0576 and price consolidation above. The target will be the upper Target Zone, 1.0682 – 1.0663.

Today, the Fed will announce its decision on the interest rate, so be as careful as possible in your trading decisions.

EURUSD trading ideas for today:

  1. Sell on retest after level 1.0500 breakout and price consolidation below.
    TakeProfit: Target Zone 4 1.0416 – 1.0397.
    StopLoss: 1.0529.
  2. Buy on retest after level 1.0576 breakout and price consolidation above.
    TakeProfit: Target Zone 1.0682 – 1.0663.
    StopLoss: 1.0545.

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