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