Trading Signals for EUR/USD for January 21-24, 2026: sell below 1.1779 (21 SMA - 5/8 Murray)

[Ben Graham]

EUR/USD is trading around 1.1719, retreating after reaching a high of around 1.1768. The euro has reached overbought levels and is showing signs of exhaustion, so a technical correction is likely in the coming days.

After a strong break above the downtrend channel formed since December 2025, the euro managed to consolidate above the 200 EMA. As a result, EUR/USD notched a monthly high around 1.1770.

If the euro resumes its upward cycle in the coming hours, we could expect it to continue rising, but only if it consolidates above the 8/8 Murray located at 1.1718.

The Eagle indicator is showing a negative signal. So, a strong technical correction will likely occur in the coming hours, and EUR/USD could reach 1.1676 around the 21 SMA located at 1.1634.

The euro could fall in the coming days towards 5/8 Murray located at 1.1535, as this technical rebound could be the start of a new bearish cycle.

Our trading plan for the coming hours is to sell below 1.1743 with targets at 1.1676 and 1.1653.

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