The euro is being traded in a wide flat between the levels of 1.1353 and 1.1240. Last week, the price went up to the upper border from the lower border of the flat, and then went back to the lower border. Today, traders are trying to break through the level 1.1240 downward. If they succeed, the decline will continue with the target in the lower Target Zone 1.1184 – 1.1166.
If the 1.1240 level is held, there will be a correction to the short-term downtrend. The target of the correction will be the test of either the Additional Zone 1.1283 – 1.1278 or the Intermediary Zone 1.1331 – 1.1322.
EURUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1.1283 – 1.1278.
- TakeProfit: 1.1235.
- StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone 1.1331 – 1.1322.
- TakeProfit: 1.1235.
- StopLoss: according to the pattern rules.
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