Euro/Dollar forecast for today: EURUSD analysis 07.03.2023

Yesterday, the EURUSD tested the key resistance 1.0707 – 1.0691 of the short-term downtrend again and broke through the high of March 1. The zone hasn’t been broken out, and I suggest looking for a short entry today. The downside target will be the low of February 27.

If the price breaks out the resistance and consolidates above, the short-term trend will turn up. In this case, one could enter buy trades with a target in the upper Target Zone 1.0882 – 1.0850.

EURUSD trading ideas for today:

Sell according to the pattern at resistance (B) 1.0707 – 1.0691.
TakeProfit: 1.0535.
StopLoss: according to the pattern rules.

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