Yesterday, the euro fell and reached the lower Target Zone 1.0156 – 1.0135. The short-term trend reversed down. If traders manage to break out the Target Zone and consolidate the price lower, the next target for sales will be the Gold Zone 1.0050 – 1.0040. Otherwise, expect a correction in the Additional Zone 1.0205 – 1.0200.
The AZ serves as a strong resistance level. After the price reaches it, consider new sales according to the pattern with a target at today’s low.
If the Additional Zone is broken out, the correction will continue in the Intermediary Zone 1.0264 – 1.0253. The IZ serves as the trend’s border, where it is also possible to enter sales.
EURUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1.0205 – 1.0200.
TakeProfit: 1.0150.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1.0264 – 1.0253.
TakeProfit: 1.0150.
StopLoss: according to the pattern rules.
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