Euro/Dollar forecast for today: EURUSD analysis  04.08.2022

The EURUSD is trading in the short-term downtrend with a target in the lower Target Zone 1.0081 – 1.0060. The Additional Zone 1.0208 – 1.0203, the strong resistance zone, worked out yesterday, and the local low was broken through. Next, the price started a correction; it has tested the new Additional Zone 1.0180 – 1.0175 today. Today, I recommend entering new sell trades with a target to break through yesterday’s low.

If the Additional Zone is broken out upside, the correction will continue up to the Intermediary Zone 1.0239 – 1.0228. The IZ is the border of the short-term downtrend.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.0180 – 1.0175.
    TakeProfit: 1.0124.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.0239 – 1.0228.
    TakeProfit: 1.0124.
    StopLoss: according to the pattern rules.

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