The euro’s short-term trend reversed down. The Intermediary Zone 1.0690 – 1.0681 was broken out yesterday, and the US session closed lower. Now the selling target is the lower Target Zone 1.0594 – 1.0575.
The price is currently correcting and testing the Additional Zone 1.0679 – 1.0674.. The Additional Zone has been a strong resistance level so far, so shorts could be opened from that zone according to a pattern with the first target at yesterday’s low.
If the correction continues and the Intermediary Zone 1.0732 – 1.0722 is reached, we will consider short positions from that zone as well.
Trading plan for EURUSD for today:
- Sell according to the pattern from Additional Zone 1.0679 – 1.0674.
TakeProfit: 1.0628.
StopLoss: according to pattern rules. - Sell according to the pattern from Intermediary Zone 1.0732 – 1.0722.
TakeProfit: 1.0628.
StopLoss: according to pattern rules.
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