You are here: Home > articles > Forex > Trading Signal for EUR/USD for January 25 – 26, 2023: sell below 1.0872 (21 SMA – 6/8 Murray)
Trading Signal for EUR/USD for January 25 – 26, 2023: sell below 1.0872 (21 SMA – 6/8 Murray)
January 25, 2023 4:20 pmVideo
Latest News
- Trading Signals for EUR/USD for May 6-8, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 6, 2024
- Analysis of GBP/USD pair on May 6th. The dollar has not yet recovered from Friday May 6, 2024
- Analysis of EUR/USD pair on May 6th. The dollar continues to be under pressure from statistics May 6, 2024
- Trading Signals for GOLD (XAU/USD) for May 6-8, 2024: buy above $2,302 (21 SMA – 5/8 Murray) May 6, 2024
- EUR/USD. May 6th. Weak payrolls deliver another blow to the dollar’s coffin May 6, 2024
- GBP/USD. May 6th. Bulls continue to attack, but their momentum is fading May 6, 2024
- Weekly forecast based on simplified wave analysis of GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and US dollar index on May 6, 2024
- Defensive strategies key as Fed holds rates steady May 6, 2024
- Weekly forecast based on simplified wave analysis of EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on May 6th May 6, 2024
- Video market update for May 06, 2024 May 6, 2024
- Technical analysis of GBP/USD for week on May 6-11 May 6, 2024
- Japan to intervene market once again? May 6, 2024
- Forex forecast 05/06/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 6, 2024
- Hot forecast for EUR/USD on May 6, 2024 May 6, 2024
- Trading plan for GBP/USD on May 6. Simple tips for beginners May 6, 2024
- Trading plan for EUR/USD on May 6. Simple tips for beginners May 6, 2024
- Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs , Monday May 06 2024.ei 2024. May 6, 2024
- Technical Analysis of Intraday Price Movement of USD/IDR Exotic Currency Pairs , Monday May 06, 2024. May 6, 2024
- Forecast for EUR/USD on May 6, 2024 May 6, 2024
- Forecast for GBP/USD on May 6, 2024 May 6, 2024
Early in the American session, the Euro is trading around 1.0858, below the 21 SMA, and below the +1/8 Murray. We can see that it has been trading in this zone for almost 10 days and it could be a sign of exhaustion of the bullish force. The instrument could initiate a technical correction in the coming days.
The latest Japanese candles formed on the 4-hour chart show that the EUR/USD pair could start a bearish sequence but for this, we should expect it to trade below the daily pivot point located at 1.0872.
According to the 4-hour chart, we can see that the euro is trading within an uptrend channel formed since January 12, in which a sharp break and a daily close below 1.0805 could result in a bearish acceleration and the price could fall towards 8/8 Murray at 1.0742 and could even reach the 200 EMA located at 1.0673.
Conversely, for the continuation of the uptrend, the Euro needs a sharp break of 1.0925 to allow a test of the weekly resistance at 1.0956. With a sustainable break above this level, the instrument could face the key barrier of +/2/8 Murray (1.0986) and ultimately reach the psychological 1.10 level.
The market sentiment report shows that there are 62.60% of traders selling the pair. This could be a clear sign of a technical correction towards support levels. Later on, the instrument will resume its main uptrend.
Our trading plan for the next few hours is to sell the Euro below +1/8 Murray located at 1.0865 or below 1.0872, which represents the daily pivot point. In case the Euro is trading above this zone, we should avoid selling.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: