Euro/Dollar forecast for today: EURUSD analysis 07.07.2022

Yesterday, the euro broke out the Target Zone 2, 1.0230 – 1.0211. The next sales target is the Gold Zone 2, 1.0134 – 1.0125.

Now the price is correcting and testing the Additional Zone 1.0214 – 1.0209. The AZ is a strong resistance level where it is possible to consider new sales with the first target at yesterday’s low. If the AZ is broken out upside, the correction will continue with the target in the Intermediary Zone 1.0267 – 1.0257.

The Intermediary Zone serves as the border of a short-term downtrend. After reaching it, consider sales according to the pattern with the first target in yesterday’s low.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.0214 – 1.0209.
    TakeProfit: 1.0164.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.0267 – 1.0257.
    TakeProfit: 1.0164.
    StopLoss: according to the pattern rules.

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