Euro/Dollar forecast for today: EURUSD analysis  07.11.2022

The EURUSD short-term trend turned up last Friday. The market reached the upper Target Zone 0.9963 – 0.9942. Target Zone hasn’t been broken out.

The market is now being corrected, following the price rise. The correction targets are Additional Zone 0.9913 – 0.9908 and Intermediary Zone 0.9860 – 0.9849. After the AZ is tested, one could enter new purchases according to the pattern with a target at Friday’s high.

If AZ is broken out downside, the correction will continue to the Intermediary Zone, which is the trend border, where it is also relevant to enter buy trades.

EURUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 0.9913 – 0.9908.
    TakeProfit: 0.9965.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 0.9860 – 0.9849.
    TakeProfit: 0.9965.
    StopLoss: according to the pattern rules.

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