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.
StopLoss: according to the pattern rules.