Euro/Dollar forecast for today: EURUSD analysis 24.02.2022

The short-term euro downtrend continues, within which the Gold Zone 1.1230 – 1.1222 was reached today. This resulted in the closing of large sales and price correction in the Additional Zone 1.1256 – 1.1252. The AZ serves as a strong resistance on the correction’s path. Today consider euro sales in the abovementioned AZ with a target at the day’s low.

In case of the breakout of the AZ and the level of 1.1256, the correction will continue in the Intermediary Zone 1.1305 – 1.1296. It would be reasonable to take advantage of this situation and enter long trades with the target at level 1.1300.

EURUSD trading ideas for today:

  1. Sell according to the pattern in Additional Zone 1.1256 – 1.1252.

    TakeProfit: 1.1210.

    StopLoss: according to the pattern rules.
  2. Buy when the Additional Zone 1.1256 – 1.1252 is broken out.

    TakeProfit: Intermediary Zone 1.1305 – 1.1296.

    StopLoss: 1.1235.

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