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:
- Sell according to the pattern in Additional Zone 1.1256 – 1.1252.
StopLoss: according to the pattern rules.
- Buy when the Additional Zone 1.1256 – 1.1252 is broken out.
TakeProfit: Intermediary Zone 1.1305 – 1.1296.