On Friday last week, the short-term trend reversed up. The market closed as close as possible to the upper Target Zone 1.1300 – 1.1282. However, today the market opened with a gap below the key support of the short-term uptrend 1.1186 – 1.1177. If the price manages to consolidate below the IZ during the American session, then the trend will again reverse down. In this case, sell the euro with the target in the lower Target Zone 1.098-1.080.
If the price returns to key support and closes above level 1.1186 at the American trading session, the short-term uptrend will continue, and Friday’s high will be the target for purchases. In this case, continue looking for long euro trades.
EURUSD trading ideas for today:
Watch the market.