You are here: Home > articles > Forex > Trading Signal for EUR/USD for May 26-29, 2023: sell below 1.0742 (21 SMA -0/8 Murray )
Trading Signal for EUR/USD for May 26-29, 2023: sell below 1.0742 (21 SMA -0/8 Murray )
May 26, 2023 3:22 pmVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
Early in the American session, EUR/USD is trading around 1.0735, rebounding after it had reached the low of 1.0707.
The encouraging news from the United States keeps the euro under bearish pressure. The comments of some policymakers of the Federal Reserve fueled the expectations of a new rise in interest rates in the coming months.
EUR/USD has difficulties to continue rising because it is located within a downtrend channel formed since the beginning of May. The instrument is expected to trade under bearish pressure and it could reach -1/8 Murray located at 1.0620.
On the other hand, in case EUR/USD breaks and consolidates above the 21 SMA located at 1.0754, the price could start a new bullish scenario and could reach 1/8 Murray 1.0864 and finally, the 200 EMA located at 1.0877.
In the next few hours, we expect the euro to continue its fall if it settles below 1.0755. This could be a signal to sell with targets at 1.0700 and 1.0650.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: