Euro/Dollar forecast for today: EURUSD analysis 08.03.2022  

The short-term euro downtrend continues. Yesterday, GZ 2 1.0834 – 1.0825 was reached. After this, buyers’ reaction occurred, and traders tested the trend border of 1.0911 – 1.0901. They didn’t manage to break it out.

Today, look for an opportunity to enter short euro trades with the target at yesterday’s low. If yesterday’s low is updated and the price consolidates below GZ 2, then the next target for sales will be TZ 3 1.0746 – 1.0728.

To enter euro purchases, traders need to break out level 1.0911 and consolidate the price higher. In this case, the trend will reverse up, and the target for purchases will be TZ 1.1017 – 1.0997.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0911 – 1.0901.

TakeProfit: 1.0810.

StopLoss: according to the pattern rules.

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