Trading Signals for EUR/USD for April 10-12, 2024: sell below 1.0864 (4/8 Murray – symmetrical triangle)
April 10, 2024 6:23 am
EUR/USD pair is trading around 1.0852, below the strong resistance of 4/8 Murray located at 1.0864, and below the 21SMA located at 1.0859 showing signs of exhaustion.
On the H1 chart, we can see the formation of a symmetrical triangle pattern which makes us think that the euro could be trading within this pattern between 1.0830 and 1.0887 in the coming days.
In case the euro falls below 3/8 Murray located at 1.0833 and makes a daily close below the 200 EMA located at 1.0830, it could be seen as a signal to sell with targets until the low of early April around 1.0722.
In case the euro tries to overcome this consolidation zone within the technical pattern and if it consolidates above 1.0894, it will be seen as an opportunity to buy. Above this area, it could reach the psychological level of 1.10.
In case there is a sharp break of the triangle pattern and if EUR/USD falls below 1.0830, it will be clearly seen as a bearish signal.
Technically, the eagle indicator is giving a positive signal which makes us think that if a technical rebound occurs around the bottom of the uptrend channel located at 1.0840, it will be seen as an opportunity to buy.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD pair is trading around 1.0852, below the strong resistance of 4/8 Murray located at 1.0864, and below the 21SMA located at 1.0859 showing signs of exhaustion.
On the H1 chart, we can see the formation of a symmetrical triangle pattern which makes us think that the euro could be trading within this pattern between 1.0830 and 1.0887 in the coming days.
In case the euro falls below 3/8 Murray located at 1.0833 and makes a daily close below the 200 EMA located at 1.0830, it could be seen as a signal to sell with targets until the low of early April around 1.0722.
In case the euro tries to overcome this consolidation zone within the technical pattern and if it consolidates above 1.0894, it will be seen as an opportunity to buy. Above this area, it could reach the psychological level of 1.10.
In case there is a sharp break of the triangle pattern and if EUR/USD falls below 1.0830, it will be clearly seen as a bearish signal.
Technically, the eagle indicator is giving a positive signal which makes us think that if a technical rebound occurs around the bottom of the uptrend channel located at 1.0840, it will be seen as an opportunity to buy.
The material has been provided by InstaForex Company – www.instaforex.com
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