Euro/Dollar forecast for today: EURUSD analysis 06.03.2023

The EURUSD is trading in the short-term downtrend. Last week, the price tested resistance (B), and the price started falling. However, the price hasn’t broken through the low of March 1 or the low of February 27.

Starting form last Friday, the price started rising; the upside target is the high of March 1. If the high of March 1 is broken though, the short-term trend will turn up via the breakout of resistance (B). If resistance (B) is broken out, one could enter long trades with a target at the upper Target Zone 1.0882 – 1.0850.

If the high of March 1 isn’t broken through, it will be relevant to enter sell trades with a target at the low of February 27.

EURUSD trading ideas for today:

Monitor the market.

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