empty
29.12.2023 06:16 AM
Trading Signals for EUR/USD for December 29-31, 2023: sell below 1.1090 (7/8 Murray - 21 SMA)

This image is no longer relevant

Early in the European session, the euro is trading around 1.1070, below the 7/8 Murray line, and above the 21 SMA located at 1.1062.

Yesterday, the euro lost its bullish strength and failed to consolidate above 1.11. EUR/USD went through a technical correction due to rising US Treasury yields and the recovery of the US dollar.

EUR/USD reached a high of 1.1138, the same price last seen on July 26th, and then started a sharp pullback.

On the H4 chart, we can see that the Euro tried to break the top of the bullish trend channel without success on more than 4 occasions.

The technical correction seen a few days ago was imminent because a negative divergence has been observed on the technical chart since December 20. Given the low market liquidity and the holidays, the Euro gained upward movement and entered extremely overbought levels.

The main trend remains positive for the Euro. However, in case it falls and consolidates below 1.1060, we could expect a continuation of the downward movement and EUR/USD could reach the bottom of the uptrend channel around 1.1014. If this channel is broken, the instrument could reach 6/8 Murray at 1.0986 and could even reach the 200 EMA located at 1.0892.

The daily pivot point is around 1.1090. If the euro trades below this level in the coming hours, it will give us a negative outlook. In case EUR/USD falls below 1.1060, it will be viewed as a sell signal with targets at 1.1015 and 1.0986.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forex forecast 19/05/2025: EUR/USD, GBP/USD, USD/JPY, USD/CAD, Gold, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:52 2025-05-19 UTC+2

EUR/USD. May 19th. The Euro Remains Under Pressure

On Friday, the EUR/USD pair continued its moderate decline. A close below the 127.2% Fibonacci level at 1.1181 was recorded, but bears failed to build on that success. The current

Samir Klishi 10:45 2025-05-19 UTC+2

Forecast for GBP/USD on May 19, 2025

On the hourly chart, the GBP/USD pair continued to move sideways on Friday, fluctuating between the levels of 1.3205 and 1.3344. Following a rejection from the resistance zone of 1.3344–1.3357

Samir Klishi 10:36 2025-05-19 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Monday May 19, 2025.

On the 4-hour chart, the Stochastic Oscillator indicator appears to be crossing BUY, coupled with the price movement moving above the WMA (21) and the appearance of a Bullish

Arief Makmur 07:58 2025-05-19 UTC+2

Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs, Monday May 19, 2025.

Although Sellers still dominate EUR/JPY on its 4-hour chart, this is confirmed by its price movement which is moving below the WMA (21) which also has a downward slope

Arief Makmur 07:58 2025-05-19 UTC+2

EUR/USD Forecast for May 19, 2025

On Friday, the euro failed to sustain its upward movement, but it also didn't fall below the daily-scale MACD indicator line—the day closed with a black candlestick, but still above

Laurie Bailey 07:00 2025-05-19 UTC+2

GBP/USD Forecast for May 19, 2025

On Friday, the British pound failed to break above the resistance level 1.3311. Even the "head and shoulders" pattern on the Marlin oscillator couldn't help—the price extended its sideways movement

Laurie Bailey 07:00 2025-05-19 UTC+2

USD/JPY Forecast for May 19, 2025

As of this morning, the USD/JPY pair has settled near a strong support level—the intersection of the MACD line with the target level at 145.08. If the price intends

Laurie Bailey 07:00 2025-05-19 UTC+2

Trading Signals for EUR/USD for May 16-19, 2025: sell below 1.1230 (200 EMA - 6/8 Murray)

Early in the American session, the EUR/USD pair is trading around 1.1178, below the 200 EMA, and below the 21 SMA under bearish pressure. Having reached the 1.1270 area

Dimitrios Zappas 17:04 2025-05-16 UTC+2

Trading Signals for GOLD for May 16-19, 2025: sell below $3,211 -3,226 (200 EMA - 21 SMA)

The Eagle indicator is reaching oversold levels, so we believe that any pullback, as long as the gold price remains above the 4/8 Murray level, will be seen

Dimitrios Zappas 17:02 2025-05-16 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

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?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

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 InstaForex anyway.

We are sorry for any inconvenience caused by this message.