Euro/Dollar forecast for today: EURUSD analysis 16.11.2022

The short-term euro trend turned down yesterday. The downside target is now the lower Target Zone 1.0269 – 1.0248. The price is now being corrected up to the Intermediary Zone 1.0396 – 1.0386, this is the trend key resistance. I recommend entering short trades in the IZ with a target at yesterday’s low.

If the IZ is broken out upside today and the price consolidates above it at the US session, the short-term trend will turn up. If so, one could buy the euro tomorrow.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.0396 – 1.0386.
TakeProfit: 1.0284.
StopLoss: according to the pattern rules.

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