Euro/Dollar forecast for today: EURUSD analysis 11.05.2023

The EURUSD short-term uptrend continues. The price is being corrected with a target to test support (B) 1.0932 – 1.0916. When support (B) is tested, one could enter new purchases according to the pattern with a target at the high of May 4. When this high is broken through, the next upside target will be the Gold Zone 1.1147 – 1.1137.

It will be relevant to sell when the price breaks out level 1.0916 and consolidates below. In this case, the short-term trend will turn down, and the downside target will be the lower Target Zone 1.0773 – 1.0741.

EURUSD trading ideas for today:

Buy according to the pattern at support (В) 1.0932 – 1.0916.
TakeProfit: 1.1090.
StopLoss: according to the pattern rules.

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