The short-term euro downtrend continued. The price declined in the trend border of 1.1376 – 1.1367. As a result, the lower Target Zone 1.1318 – 1.1301 was reached. The next target of the fall is February 14 low.
If traders manage to consolidate the price below the Target Zone, the next target will be the Gold Zone 1.1230 – 1.1222. Otherwise, a correction at strong resistance levels, such as Additional Zone 1.1336 – 1.1331 and Intermediary Zone 1.1384 – 1.1375, will occur. I recommend considering new sales at the abovementioned strong levels.
EURUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1.1336 – 1.1331.
TakeProfit: 1.1281.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1.1384 – 1.1375.
TakeProfit: 1.1281.
StopLoss: according to the pattern rules.
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