Euro/Dollar forecast for today: EURUSD analysis 20.04.2022

The short-term euro downtrend continues. Its main target is to update April 19 low. At the moment the price is correcting and testing the Additional Zone 1.0813 – 1.0809. The AZ serves as a strong resistance on the correction’s way. Therefore, it is possible to consider sales according to the pattern in the AZ.

If the Additional Zone is broken out upside, the correction will continue with the target in the trend’s border of 1.0863 – 1.0853. After testing the trend border, look for euro sales with the same target.

To enter purchases and reverse the trend, traders need to consolidate the price above level 1.0863 at the American trading session. In this case, the trend will reverse up, and the target for purchases will be the upper Target Zone 1.0968 – 1.0949.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.0813 – 1.0809.
    TakeProfit: 1.0762.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.0863 – 1.0853.
    TakeProfit: 1.0762.
    StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.