The euro continues trading between the Gold Zone 1.0249 – 1.0240 and the Intermediary Zone 1.0167 – 1.0161. The short-term trend remains upward. The Intermediary Zone serves as the trend limit.
If the price continues rising and the Gold Zone is broken out in today’s or tomorrow’s trading, the next buying target will be the Target Zone 2, 1.0377 – 1.0356. If the price goes down and breaks out the Intermediary Zone, the short-term trend will reverse down. We will then consider selling the euro with a target in the lower Target Zone at 1.0065 – 1.0044.
Trading plan for EURUSD for today:
- Buy on a retest if the Gold Zone 1.0249 – 1.0240 is broken to the upside.
TakeProfit: Target Zone 2, 1.0377 – 1.0356.
- Sell on a retest if the Intermediary Zone 1.0167 – 1.0161 is broken to the downside.
TakeProfit: Target Zone 1.0065 – 1.0044.