The euro has just reached the main target for sales within a short-term downtrend, the lower Target Zone 1.0945 – 1.0926.
The further fate of the trend will depend on the ability of sellers to consolidate the price below the Target Zone. If successful, the next target for sales will be the Gold Zone 1.0849 – 1.0839.
Otherwise, expect the development of a correction pattern in order to test the Additional Zone 1.0997 – 1.0992 and the Intermediary Zone 1.1050 – 1.1040. A test of these levels will provide an opportunity to consider new euro sales.
EURUSD trading ideas for today:
Watch the market.