Euro/Dollar forecast for today: EURUSD analysis 16.03.2022

The short-term EURUSD downtrend continues.

Yesterday, traders tested the trend key resistance of 1.1006. Resistance was held and a sell pattern formed. Today the market is offering another chance to sell the euro at favorable prices with a target at March 14 low.

The update of yesterday’s high and price consolidation higher are required for the euro purchases and the trend reversal. In this case, consider new purchases with the target in the upper Target Zone 1.1111 – 1.1092.

EURUSD trading ideas for today:

Sell/hold sell trades entered in the zone of level 1.0980.

TakeProfit: Gold Zone 1.0833 – 1.0823.

StopLoss: 1.1022.

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