See also
02.04.2025 03:18 PM
Early in the American session, the EUR/USD pair is trading around 1.0807, below the 21-month SMA, and below the +1/8 Murray level, showing signs of exhaustion.
On the H4 chart, we can see that the euro is trading within the bearish trend channel formed on March 12th and is likely to continue falling in the coming hours if EUR/USD consolidates below 1.0815.
If the euro breaks and consolidates above the bearish trend channel, we could expect it to reach +1/8 Murray level at 1.0864 in the coming days. EUR/USD could even reach +2/8 Murray level located at 1.0986.
On the other hand, with a rejection below 1.0815, the instrument could resume its bearish cycle, and we could expect the euro to reach the 8/8 Murray at 1.0742, the 200 EMA around 1.0719, and finally reach the bottom of the downtrend channel around 1.0670.
According to the chart, the euro is reaching oversold levels. Hence, a resumption of the bullish cycle is expected. However, there is strong pressure below 1.0830, so we believe that if the euro recovers, we should expect a recovery above 1.0864. Then, EUR/USD could climb to the psychological level of 1.10.
Our trading plan for the coming hours is to sell the euro below 1.0815 with a target at 1.0670.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
