Euro/Dollar forecast for today: EURUSD analysis 21.01.2022

Yesterday, the main target for euro sales within a short-term downtrend, the lower Target Zone 1.1306 – 1.1289, was reached. After that, the price reaction can be seen, as a result of which major traders began to exit sales, causing a EURUSD correction. The target of the correction is the test the Additional Zone 1.1349 – 1.1344.

After testing the Additional Zone, look at the sellers’ reaction. If the market provides a sell pattern, I recommend using it and entering euro sales with a target at today’s low.

If the Additional Zone is broken out and the price consolidates higher, enter purchases with the target in the Intermediary Zone 1.1397 – 1.1388.

EURUSD trading ideas for today:

Sell according to the pattern in Additional Zone 1.1349 – 1.1344.

TakeProfit: 1.1300.

StopLoss: according to the pattern rules.

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