Today’s forecast for the EURUSD: EURUSD analysis  25.05.2022

The euro/dollar has reached the Target Zone 2, 1.0752 – 1.0733, following a short-term uptrend. Then, a correction began. Market participants are testing the Additional Zone 1.0700 – 1.0695 during the correction. That zone is a strong support level from which new longs could be opened according to the pattern with a target at yesterday’s high.

If the Additional Zone is broken to the downside in trading and the price consolidates below, the correction might continue with a target in the Intermediary Zone 1.0652 – 1.0642. The Intermediary Zone serves as the trend limit. Once it’s reached, a pattern to buy can be expected again. Then, we can open new longs.  

Trading plan for EURUSD for today:

  1. Buy according to the pattern from Additional Zone 1.0700 – 1.0695.
    TakeProfit: 1.0746.
    StopLoss: according to pattern rules.
  2. Buy according to the pattern from Intermediary Zone 1.0652 – 1.0642.
    TakeProfit: 1.0746.
    StopLoss: according to pattern rules.

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