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Euro/Dollar forecast for today: EURUSD analysis 08.02.2022

On Tuesday morning, the bearish euro trend continues. The pair is declining. The target of the price fall is the February 4 low and a test of the Intermediary Zone 1.1395 – 1.1386. The IZ serves as the border of a short-term uptrend. After reaching it, look for a buy pattern with a target at February 4 high.

To enter euro sales and reverse the trend, it is required to break out the IZ and consolidate the price below at the US trading session. In this case, from the next trading day, consider euro sales with the target in the lower Target Zone 1.1307 – 1.1290.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.1395 – 1.1386.

TakeProfit: 1.1482.

StopLoss: according to the pattern rules.



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