Early in the European session, the euro is trading around 1.1725, undergoing a technical correction after attempting to break through the upper band of the uptrend channel.
The euro could consolidate in the coming hours around the 4/8 Murray line or the 21-day SMA before resuming its uptrend.
Technically, on the H4 chart, we observe that the euro is trading within a bearish trend channel formed since April 13. If the instrument falls below the 200 EMA around 1.1683, a strong technical correction toward the psychological level of 1.1500 could occur.
As long as EUR/USD consolidates above the 21 SMA and above the 200 EMA, any pullback could be considered a signal to continue buying in the coming days.
A decisive breakout and consolidation above the downtrend channel and above the April 26 high around 1.1750 could be seen as a positive signal, and we could continue buying the euro with targets at the 5/8 Murray level around 1.1840.
The Eagle indicator is giving a positive signal, so we could buy the euro in the coming days in case of a technical correction to the 200 EMA. Around this area, a technical rebound could give us an opportunity to open long positions.
SZYBKIE LINKI
ForexMart is authorized and regulated in various jurisdictions.
(Reg No.23071, IBC 2015) with a registered office at First Floor, SVG Teachers Co-operative Credit Union Limited Uptown Building, Corner of James and Middle Street, Kingstown, Saint Vincent and the Grenadines
Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.
Skontaktuj się z ForexMart 
