After buyers failed to break out the upper Target Zone 1.0570 – 1.0550, the price corrected and tested the Intermediary Zone 1.0505 – 1.0495. On Friday, the IZ was broken out. However, at the close of the American trading session, the price returned to this support level. That is, the zone was held, and the short-term euro uptrend continued.
Today, consider long trades according to the pattern in the Intermediary Zone with the target at June 16 high.
If the Intermediary Zone is broken out during trading and the price consolidates lower in the American trading session, the short-term trend will reverse down. In this case, consider euro sales with the target in the lower Target Zone 1.0409 – 1.0390.
EURUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1.0505 – 1.0495.
StopLoss: according to the pattern rules.