Euro/Dollar forecast for today: EURUSD analysis 23.08.2022

EURUSD short-term downtrend continues. Yesterday, the Target Zone 2, 0.9944 – 0.9923 was reached. Today, traders are trying to break out this TZ downside. If successful, and if the price consolidates lower in the US trading session, the next target for sales will be the Gold Zone 2, 0.9838 – 0.9828.

Since the euro is trading in a downtrend, consider sales on correction with a target at yesterday’s low. If yesterday’s low is updated, the target for sales will be today’s low.

To enter a long trade, traders need to reverse the trend up by breaking out the Intermediary Zone 1.0042 – 1.0032.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 0.9984 – 0.9979.
    TakeProfit: 0.9927.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 1.0042 – 1.0032.
    TakeProfit: 0.9927.
    StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.