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Euro/Dollar forecast for today: EURUSD analysis  09.08.2022

The short-term euro downtrend continues, the main target of which is the lower Target Zone 1.0081 – 1.0060. Last week, the trend key resistance 1.0239 – 1.0228 was tested but unsuccessfully. Therefore, focus on holding sales in this zone and open new ones according to the pattern, with the first target to update the August 3 low.

If during the trading, the Intermediary Zone 1.0239 – 1.0228 is broken out upside and the price closes higher in the American trading session, the short-term trend will reverse up. In this case, from the next trading day, look for euro purchases with the target in the upper Target Zone 1.0355 – 1.0334.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0239 – 1.0228.

TakeProfit: 1.0124.

StopLoss: according to the pattern rules.



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