Euro/Dollar forecast for today: EURUSD analysis 29.10.2024

The euro is trading in a short-term downtrend. Yesterday, the price failed to pierce the Target Zone 1.0794 – 1.0777. Therefore, an upward correction may emerge today.

If the correction unfolds, the price will likely test the strong resistance (A) 1.0884 – 1.0873 and resistance (B) 1.0946 – 1.0929. Consider short trades near these zones with the main target of 1.0761.

EURUSD trading ideas for today:

Sell at resistance (A) 1.0884 – 1.0873.
TakeProfit: 1.0822, 1.0761.
StopLoss: 1.09046.

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