Euro/Dollar forecast for today: EURUSD analysis  05.05.2022

Yesterday, after the release of the Fed’s decision on the interest rate, the EURUSD broke out the Intermediary Zone 1.0576 – 1.0567. Thus, the short-term trend reversed up. Now the target for purchases is the upper Target Zone 1.0682 – 1.0663. It is profitable to look for purchases on the retest of the broken out Intermediary Zone. Place a stop loss at the level of 1.0540.

To enter sales, traders need to break out the Gold Zone and consolidate the price lower. In this case, consider short trades with the target at the Target Zone 4 1.0416 – 1.0397.

EURUSD trading ideas for today:

Buy in the zone of 1.0576 – 1.0567.

TakeProfit: Target Zone 1.0682 – 1.0663.

StopLoss: 1.0540.

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