Euro/Dollar forecast for today: EURUSD analysis18.05.2022

The short-term euro trend reversed up. Yesterday, the Intermediary Zone 1.0455 – 1.0445 was broken out, as a result of which the price immediately reached the Target Zone 1.0560 – 1.0541. The TZ has not been broken out yet, so focus on today’s high as a possible buy target.

Consider new euro purchases on correction after the test of strong support levels, the Additional Zone 1.0515 – 1.0510 and the Intermediary Zone 1.0467 – 1.0458. The latter serves as the border of the trend.

If today’s local high is updated during trading and the price closes above the Target Zone at the US session, the next target for purchases will be the Gold Zone 1.0647 – 1.0637.

EURUSD trading ideas for today:

  1. Buy according to the pattern in Additional Zone 1.0515 – 1.0510.
    TakeProfit: 1.0562.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 1.0467 – 1.0458.
    TakeProfit: 1.0562.
    StopLoss: according to the pattern rules.

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