The euro is still being traded in a wide flat between the levels of 1.1353 and 1.1240.
Judging by the margin zones, the short-term trend for the euro is downward. The target for shorts is the lower Target Zone 1.1184 – 1.1166. Yesterday, the price corrected to a strong resistance level, Additional Zone 1.1283 – 1.1278. The zone was held, so today consider looking for a signal to sell the euro with the target at the December 17 minimum.
If the correction continues and the Additional Zone is broken through, then the EUR/USD rate will be in the area of the Intermediary Zone 1.1331 – 1.1322. This zone is the border of a short-term downtrend. You may look for a sell pattern in this zone once the price is in it.
EURUSD trading ideas for today:
- Sell according to the pattern in Additional 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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