On Friday last week, traders retested the Target Zone 1.1318 – 1.1301. Today the buyers’ reaction to this support’s test can be seen. The price has risen and is again testing the Intermediary Zone 1.1376 – 1.1367. The IZ, together with level 1.1396, serves as the border of a short-term downtrend. As long as the zone of 1.1396 – 1.1367 is holding, look for euro sales according to the pattern with a target at February 14 low.
Euro purchases will be possible in the case of level 1.1396 breakout. In this case, consider long trades on the correction. The target for purchases will be the upper Target Zone 1.1473 – 1.1455.
EURUSD trading ideas for today:
Sell according to the pattern in the zone of 1.1396 – 1.1367.
StopLoss: according to the pattern rules.