Euro/Dollar forecast for today: EURUSD analysis  05.07.2022

Traders are preparing to continue the short-term downtrend and update last week’s low 1.0367. If they succeed, the next sales target will be the Gold Zone 1.0326 – 1.0317. Otherwise, wait for the breakout of Intermediary Zone and the trend reversal up.

If the price consolidates in the American session above level 1.0471, the trend will reverse up. In this case, consider long trades with the target in the upper Target Zone 1.0577 – 1.0557.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0471 – 1.0461.
TakeProfit: 1.0367.
StopLoss: according to the pattern rules.

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