Yesterday, euro trades in the Intermediary Zone 1.0016 – 1.0005 yielded profits. As a result, the Target Zone 2, 0.9944 – 0.9923 was tested. The zone was held. After that, a new correction in the Intermediary Zone began.
Now traders are testing the Intermediary Zone 1.0016 – 1.0005, which serves as the border of the short-term downtrend. Today, looking for sales according to the pattern in the IZ with a target at August 23 low is a matter of primary importance.
If traders manage to break out the Intermediary Zone and consolidate the price higher in the American trading session, the short-term trend will reverse up. In this case, switch to the euro purchases from the next trading day with the target in the upper Target Zone 1.0133 – 1.0111.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1.0016 – 1.0005.
StopLoss: according to the pattern rules.