Euro/Dollar forecast for today: EURUSD analysis 18.02.2022

The short-term euro downtrend continues. The sales target is February 14 low. Yesterday, traders tested the trend key resistance 1.1376 – 1.1367, but unsuccessfully.

Today, continue searching for euro sales according to the pattern with the abovementioned target. If February 14 low is updated, then wait for the price to consolidate below the Target Zone 1.1318 – 1.1301. This will lead to reaching the next target in the Gold Zone 1.1230 – 1.1222.

Entering euro purchases requires updating of February 16 high and price consolidation above. In this case, the short-term trend will reverse up, and the upper Target Zone 1.1473 – 1.1455 will become the target for purchases.

EURUSD trading ideas for today:

Sell according to the pattern in Intermediary Zone 1.1376 – 1.1367.

TakeProfit: 1.1281.

StopLoss: according to the pattern rules.

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