Euro/Dollar forecast for today: EURUSD analysis 19.01.2023

EURUSD rose from support (А) 1.0768 – 1.0757 yesterday. The price broke through the high of January 16. Traders also tried to break out Gold Zone 2, 1.0869 – 1.0858 but failed, and the price started a correction.

Following a correction, the price tested new support (A) 1.0781 – 1.0770. The zone hasn’t been broken out, so one could enter purchases with a target at the high of January 18. If this high is broken through, the price should reach Gold Zone 2. In this case, the next upside target will be Target Zone 3, 1.0985 – 1.0964.

If the correction continues, the price could go down to the trend border 1.0728 – 1.0712. Once the trend border is reached by the pice, it will be also relevant to buy.

EURUSD trading ideas for today:

  1. Buy according to the pattern at support (А) 1.0781 – 1.0770.
    TakeProfit: 1.0885.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern at support (В) 1.0728 – 1.0712.
    TakeProfit: 1.0885.
    StopLoss: according to the pattern rules.

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