Euro/Dollar forecast for today: EURUSD analysis  12.05.2022

The short-term euro trend reversed down. Yesterday, the price broke out the Intermediary Zone 1.0545 – 1.0536 and consolidated below. Now the target for sales is the lower Target Zone 1.0449 – 1.0430. Consider new short trades on correction at strong resistance levels, Additional Zone 1.0543 – 1.0538 and Intermediary Zone 1.0595 – 1.0586. The latter serves as the trend’s border.

Price consolidation above the trend border of 1.0595 in the American trading session is required for the euro purchases.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.0543 – 1.0538.
    TakeProfit: 1.0492.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.0595 – 1.0586.
    TakeProfit: 1.0492.
    StopLoss: according to the pattern rules.

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