Euro/Dollar forecast for today: EURUSD analysis 16.12.2021

Yesterday, the short-term euro trend reversed down by breaking out the Intermediary Zone 1.1266 – 1.1258. Starting today, it is profitable to look for euro sales with the target in the lower Target Zone 1.1178 – 1.1161. It will be possible to take a part of profits at yesterday’s low.

Now the price is correcting and approaching the trend key resistance 1.1318 – 1.1310. Look for short trades at this resistance according to the pattern with the targets outlined above.

If the trend key resistance is broken out upside and the price closes higher at the US trading session, then the trend will reverse up. In this case, open long trades with the target in the upper Target Zone 1.1415 – 1.1398.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.1318 – 1.1310.

TakeProfit: 1.1225, Target Zone 1.1178 – 1.1161.

StopLoss: according to the pattern rules.

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