The price broke out level 1.1278 yesterday and updated 30 November’s low. However, the EURUSD didn’t reach the Target Zone and corrected instead. The Additional Zone of 1.1275 – 1.1271 was tested in the US trading session yesterday. Today, it’s been broken to the upside.
The price is currently trading in the range between the Intermediary and the Additional zones. The range of 1.1324 – 1.1271 is good for selling the pair. Try to find a reversal pattern and sell the euro in that range. Yesterday’s low will be the first target, and the lower Target Zone 1.1206 – 1.1189 will be another target.
A breakout of level 1.1324 will develop an alternative buying scenario where we will have another shift to an uptrend, and the upper Target Zone 1.1421 – 1.1403 will be a buying target.
Trading plan for EURUSD for today:
Sell according to the pattern from 1.1324 – 1.1271.
TakeProfit: Target Zone 1.1206 – 1.1189.
StopLoss: according to the pattern rules.