As part of a short-term downtrend, the euro broke out the Gold Zone 1.1230 – 1.1222 and reached the Target Zone 2 1.1142 – 1.1125. Target Zone 2 was held. As a result, yesterday, a correction occurred, and the Intermediary Zone 1.1203 – 1.1194 was tested. The IZ was held during the American trading session. Therefore, today the short-term downtrend continues.
Look for a euro sell pattern with a target at yesterday’s low in the European session. After updating yesterday’s low, expect the price to reach the GZ 2 1.1054 – 1.1046.
Euro purchases require price consolidation at the American session above level 1.1203. In this case, the trend will reverse up, and the upper Target Zone 1.1300 – 1.1282 will become the target for purchases.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1.1203 – 1.1194.
StopLoss: according to the pattern rules.