During the euro trades opening the price declined and reached the Gold Zone 2 1.0834 – 1.0825. GZ 2 serves as a strong support in a short-term downtrend. The chart shows the closing of large sales after reaching the GZ 2. As a result, the price corrected. Now it tries to test the Intermediary Zone 1.0926 – 1.0916.
The Intermediary Zone serves as the border of a short-term downtrend. Therefore, after reaching it, first of all, look for new sales in order to update today’s low. If traders break out the IZ up and the price consolidates higher at the American trading session, then the trend will reverse up. In this case, look for euro purchases with the target in the upper TZ 1.1032 – 1.1012.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1.0926 – 1.0916.
StopLoss: according to the pattern rules.