Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray)
April 18, 2024 4:22 pm
Early in the American session, the EUR/USD pair is trading around 1.0660, within an uptrend channel forming since April 14, above the 2/8 Murray, and above the 21 SMA. This gives us the idea of a bullish advance in the coming days.
During the European session, the euro reached the top of the uptrend channel. Since then, it has been making a technical correction and could bounce around 1.0641.
In case EUR/USD continues to fall, it could find support at about 2/8 Murray or at the bottom of the uptrend channel that coincides with the same level of 1.0620.
The eagle indicator is giving a positive signal. hence, any technical bounce will be seen as a buying opportunity only if the Euro trades above 1.0640 – 1.0620.
On the contrary, a break of this uptrend channel and a consolidation below 1.0600 could change the outlook for the euro and EUR/USD could fall towards the psychological level of 1.0500.
We believe that the euro could continue to rise in the next few hours. So, we should expect there to be a consolidation above 1.0640 or around this area, to buy with targets at 1.0700, 1.0742, and finally at the 200 EMA located at 1.0785.
The material has been provided by InstaForex Company – www.instaforex.com
Early in the American session, the EUR/USD pair is trading around 1.0660, within an uptrend channel forming since April 14, above the 2/8 Murray, and above the 21 SMA. This gives us the idea of a bullish advance in the coming days.
During the European session, the euro reached the top of the uptrend channel. Since then, it has been making a technical correction and could bounce around 1.0641.
In case EUR/USD continues to fall, it could find support at about 2/8 Murray or at the bottom of the uptrend channel that coincides with the same level of 1.0620.
The eagle indicator is giving a positive signal. hence, any technical bounce will be seen as a buying opportunity only if the Euro trades above 1.0640 – 1.0620.
On the contrary, a break of this uptrend channel and a consolidation below 1.0600 could change the outlook for the euro and EUR/USD could fall towards the psychological level of 1.0500.
We believe that the euro could continue to rise in the next few hours. So, we should expect there to be a consolidation above 1.0640 or around this area, to buy with targets at 1.0700, 1.0742, and finally at the 200 EMA located at 1.0785.
The material has been provided by InstaForex Company – www.instaforex.com
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