Euro/Dollar forecast for today: EURUSD analysis 17.06.2022

Yesterday, the short-term euro trend reversed up. As a result, the price reached the upper Target Zone 1.0570 – 1.0550. Traders also tried to break out the upper TZ, but unsuccessfully.

Today the price is correcting and testing the Intermediary Zone 1.0505 – 1.0495. The IZ serves as the border of a new uptrend. Consider purchases in this IZ with a target at yesterday’s high.

To enter euro sales, traders need to consolidate the price in the American session below the Intermediary Zone. In this case, the short-term trend will reverse down. So look for sales with the target in the lower Target Zone 1.0409 – 1.0390.

EURUSD trading ideas for today:

Buy according to the pattern in Intermediary Zone 1.0505 – 1.0495.
TakeProfit: 1.0600.
StopLoss: according to the pattern rules.

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