Today’s forecast for the EURUSD: EURUSD analysis 23.05.2022

Euro’s short-term bullish trend continues today, and the price has updated last week’s high. The next buying target is the golden zone 1.0647 – 1.0637.

I recommend considering new longs during a correction from strong support levels, which are the additional zone 1.0566 – 1.0561 and the intermediary zone 1.0518 – 1.0508.

For us to sell the euro, the price must consolidate below the intermediary zone during the US trading session. We will then have a shift to a downtrend and consider euro shorts in the lower target zone 1.0422 – 1.0402.

Trading plan for EURUSD for today:

  1. Buy according to the pattern from Additional zone 1.0566 – 1.0561.
    TakeProfit: 1.0612.
    StopLoss: according to pattern rules.
  2. Buy according to the pattern from Intermediary zone 1.0518 – 1.0508.
    TakeProfit: 1.0612.
    StopLoss: according to pattern rules.

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