See also
07.04.2025 05:44 PM
Early in the American session, the EUR/USD pair is trading below the 6/8 Murray level and within the bearish trend channel forming since early April.
The euro is expected to continue falling in the coming hours and could reach the 4/8 Murray level at 1.0742. After the EUR/USD's strong recovery in early April to the 1.1145 level, the euro is undergoing a strong technical correction.
We believe EUR/USD could continue falling in the medium term and could reach 1.0362, where it left a gap. This level is key and will surely be reached at some point.
If the euro consolidates above 1.0986, we could expect a continuation of the upward movement, and EUR/USD could reach the 7/8 Murray level at 1.1108 and even surpass its high from early April.
Technically, the Eagle indicator is showing a negative signal. If a technical rebound occurs and the instrument settles below the 6/8 Murray level, we will look for selling opportunities with targets at 1.0864 and finally at the 200 EMA located at 1.0750.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
