Euro/Dollar forecast for today: EURUSD analysis 06.01.2023

The EURUSD short-term downtrend continued yesterday. The price tested the Gold Zone 1.0667 – 1.0657. The zone hasn’t been broken out and the price went down below the zone at the end of the American trading session, 

Therefore, if the price retests  the GZ and the zone is not broken out, one could enter buy trades with a target at resistance (А) 1.0751 – 1.0741. 

If the price breaks through yesterday’s low, it will break out the Gold Zone. In this case, the next downside target will be the Target Zone 1.0551 – 1.0529. 

EURUSD trading ideas for today:

  1. Sell according to the pattern at resistance(А) 1.0751 – 1.0741.
    TakeProfit: 1.0667.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Gold Zone 1.0667 – 1.0657.
    TakeProfit: 1.0740.
    StopLoss: according to the pattern rules.

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