Yesterday, the euro corrected in the Additional Zone 1.1274 – 1.1270. The price didn’t break out the AZ. As a result, the euro price fell and the previous low was repeated.
Support level 1.1233 has been reached. The Additional Zone yielded profits. For a further price fall, it is required to break out this level and consolidate the price below. In this case, the target for sales will be the lower Target Zone 1.1198 – 1.1180.
Otherwise, a new correction will develop. The target of this correction will be yesterday’s high and a test of the new Additional Zone 1.1280 – 1.1276. If the resistance is broken out upside, the Intermediary Zone 1.1329 – 1.1320 will be reached. The IZ serves as the border of a short-term downtrend.
EURUSD trading ideas for today:
Sell according to the pattern in Additional Zone 1.1280 – 1.1276.
StopLoss: according to the pattern rules.
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