Yesterday, traders unsuccessfully tried to break out the Gold Zone 1.0512 – 1.0503. After that, a correction began, with the target of testing the Intermediary Zone 1.0576 – 1.0567.
The Intermediary Zone serves as the border of a short-term downtrend. After reaching it, look for a sell pattern. If it appears, sell the euro with a target at April 28 low.
If the price breaks out the Intermediary Zone during the trading session and consolidates higher, the trend will reverse up. In this case, look for euro purchases. The target for purchases will be the upper Target Zone 1.0682 – 1.0663.
EURUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1.0576 – 1.0567.
TakeProfit: 1.0475.
StopLoss: according to the pattern rules.
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