Euro/Dollar forecast for today: EURUSD analysis 29.08.2022

On Friday last week, traders almost managed to break out the Intermediary Zone 1.0016 – 1.0005. However, during the American trading session, the price fell and closed below the IZ, which indicates that this key resistance was held. Therefore, today the search for sales according to the pattern to update August 23 low is a matter of primary importance.

If August 23 low is updated, the Target Zone 2, 0.9944 – 0.9923 will be broken out. This means that the next target for sales will be the Gold Zone 2, 0.9838 – 0.9828.

EURUSD trading ideas for today:

  1. Hold sell trades entered in Intermediary Zone 1.0016 – 1.0005.
    TakeProfit: 0.9902.
    StopLoss: 1.0032.
  2. Sell according to the pattern in Additional Zone 0.9972 – 0.9967.
    TakeProfit: 0.9915.
    StopLoss: according to the pattern rules.

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