You are here: Home > articles > Forex > Trading Signals for EUR/USD for April 11-15, 2024: buy above 1.0742 (0/8 Murray – rebound)
Trading Signals for EUR/USD for April 11-15, 2024: buy above 1.0742 (0/8 Murray – rebound)
April 11, 2024 7:22 amVideo
Latest News
- EUR/USD and GBP/USD: Technical analysis on April 11 April 11, 2024
- Key events on April 11: fundamental analysis for beginners April 11, 2024
- Trading plan for GBP/USD on April 11. Simple tips for beginners April 11, 2024
- Trading plan for EUR/USD on April 11. Simple tips for beginners April 11, 2024
- Trading Signals for EUR/USD for April 11-15, 2024: buy above 1.0742 (0/8 Murray – rebound) April 11, 2024
- Crash on Wall Street: Inflation vs. Rate Cut April 11, 2024
- Forecast for EUR/USD on April 11, 2024 April 11, 2024
- Forecast for GBP/USD on April 11, 2024 April 11, 2024
- Forecast for USD/JPY on April 11, 2024 April 11, 2024
- Outlook for GBP/USD on April 11. The pound collapsed by 200 pips, but still remained flat April 11, 2024
- Outlook for EUR/USD on April 11. The buyers waved a white flag April 11, 2024
- The market rushed the Fed and was sorely mistaken April 11, 2024
- The June issue can be considered a closed case April 10, 2024
- Dollar spreads its wings April 10, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 10-15, 2024: sell below $69,000 (3/8 Murray – bullish wedge) April 10, 2024
- Is there a possibility of no Fed rate cuts this year? – Special Report April 10, 2024
- Technical Analysis – Citigroup stock pulls back ahead of earnings April 10, 2024
- Trading Signals for Ethereum (ETH/USD) for April 10-15, 2024: sell below $2,364 (3/8 Murray – symmetrical triangle) April 10, 2024
- EUR/USD and GBP/USD: Technical analysis on April 10 April 10, 2024
- Technical Analysis – USDJPY flies to new 34-year high April 10, 2024
EUR/USD is trading around 1.0743, below the 21 SMA and 200 EMA. We can see on the H4 chart that the euro made a strong bearish move after falling below 1.0864 and below the technical pattern.
Yesterday after the inflation data from the United States, the euro fell to the low of 1.0724, which represents a decline of more than 1.2%. This fall of the euro was triggered by the inflation data from the US. It suggests that investors expect that the Fed will continue to tighten its monetary policy and in turn, this could cause the euro to continue falling in the medium term.
Before the US inflation data, the euro was trading within a triangle pattern. A break of this pattern confirmed the bearish movement, also the strong resistance at 1.0864 acted as a strong top.
Currently, we see that the euro has consolidated around 0/8 Murray located at 1.0742. In case the euro trades above this area, a technical rebound is expected to occur in the coming days and EUR/USD could reach 3/8 Murray at 1.0803.
On the other hand, a consolidation below 1.0740 could be a sign of a further bearish movement and we expect the euro to weaken and reach -2/8 Murray located at 1.0681.
Technically, the euro is showing a bearish signal according to the eagle indicator. Because there was a strong bearish movement the previous day, it is expected that there will be a technical rebound from the current price levels that could cover more than 50% of this fall. So, the price could even reach 61.8% Fibonacci and then resume its bearish cycle.
Our trading plan is to buy above 0/8 Murray with targets 1.0772, 1.0803, and 1.0833. We expect a technical rebound in the EUR/USD pair in the coming hours due to the formation of a double bottom pattern.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: