The euro continues to trade in a short-term downtrend. Market participants tested the trend’s key resistance of 1.1051 – 1.1035 yesterday. The zone was held by sellers, so quotes declined and reached the first sell target near 1.0965. The second sell target is 1.0879.
The correction may continue today, with market participants retesting the trend’s key resistance. Short positions will become relevant again once a sell pattern emerges in that area.
For us to buy the asset, the price must break the 1.1051 level and settle above it. We will then have a shift to an uptrend, and the upper Target Zone 1.1222 – 1.1191 will be the main upside target.
EURUSD Trading Ideas for Today:
Hold a part of shorts near resistance (В) 1.1051 – 1.1035.
TakeProfit: 1.0879.
StopLoss: breakeven.
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