EUR/USD is trading around 1.1410, below the Murray 6/8 level and within the uptrend channel formed on May 9.
The instrument has an area where buyers have found it easier to take profits around 1.1476. This level could be a barrier for the euro, and from there we could expect a technical correction.
If the bullish force prevails, the euro could reach the top of the uptrend channel around 1.1474 and even the psychological level of 1.1500.
Technically, we observe that the euro is overbought and there could be a technical correction in the coming days, as crucial data from the United States will be released later this week, which could generate strong volatility in the market.
The indicator is showing a negative signal, so if an additional upward movement occurs above the current price, we could consider selling as long as the instrument consolidates below 1.1500.
The instrument has an area where buyers have found it easier to take profits around 1.1476. This level could be a barrier for the euro, and from there we could expect a technical correction.
If the bullish force prevails, the euro could reach the top of the uptrend channel around 1.1474 and even the psychological level of 1.1500.
Technically, we observe that the euro is overbought and there could be a technical correction in the coming days, as crucial data from the United States will be released later this week, which could generate strong volatility in the market.
The indicator is showing a negative signal, so if an additional upward movement occurs above the current price, we could consider selling as long as the instrument consolidates below 1.1500.
Trade active
As you can see that the price respect our buy entry now if EUR/USD breaks the resistance of around 1.1453, it will confirm us a strong new higher with a target of 1.1570.
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DAILY FREE SIGNAL. FREE SIGNAL (95% accuracy) TP AND SL PROVIDED
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.