The short-term euro uptrend continues, despite the attempts of sellers to break out the Intermediary Zone 1.0545 – 1.0536 and consolidate the price lower. Because yesterday the IZ was again held, today consider long trades according to the pattern with the first target at May 5 high and with the second target in the upper Target Zone 1.0682 – 1.0663. To form a buy pattern, traders need to break out yesterday’s high and consolidate the price higher.
Sales require price consolidation in the American session below level 1.0536. In this case, the trend will reverse down, so consider short positions in the lower Target Zone 1.0449 – 1.0430.
EURUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1.0545 – 1.0536.
TakeProfit: 1.0640, Target Zone 1.0682 – 1.0663.
StopLoss: according to the pattern rules.