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Euro/Dollar forecast for today: EURUSD analysis 17.11.2022

The EURUSD has reached the Intermediary Zone 1.0396 – 1.0386 in the correction. The IZ is the border of the short-term downtrend. Market participants tried to break it out yesterday, but the US session closed the price within the resistance. The downtrend continues today. One could enter short trades with a target at the low of November 15.

If the Intermediary Zone is broken out upside today, the short-term trend will turn up. If so, one could buy the euro with a target in the upper Target Zone 1.0513 – 1.0492 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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