The Euro is trading between the Intermediary Zone 1.0016 – 1.0005, which serves as the short-term downtrend’s key resistance, and the Target Zone 2, 0.9944 – 09923, which serves as a strong support. Depending on the further price movement, consider either purchases or sales.
If the price breaks out the Intermediary Zone and consolidates higher in the American session, the short-term trend will reverse up. In this case, consider purchases with the target in the upper Target Zone 1.0133 – 1.0111.
If the price leaves the range down and breaks out the Target Zone 2, 0.9944 – 09923, the decline will continue. In this case, the Gold Zone 2, 0.9838 – 0.9828 will serve as the target for sales.
EURUSD trading ideas for today:
Watch the market.