REDATOR Ben Graham Posted February 6 REDATOR Report Share Posted February 6 EUR/USD is trading around 1.1786, rebounding after reaching the 200 EMA around 1.1764. On the H4 chart, we can see consolidation around 1.1785 since early February. This area could be seen as a key level for the euro to recover in the coming days.On the H4 chart, we can see that the euro has got stuck within a downtrend channel formed since January 28, and a break below the 200 EMA located at 1.1764 could favor a continuation of the downward movement. EUR/USD could reach the 4/8 Murray at 1.1718 and even the bottom of the downtrend channel around 1.1670.Conversely, a break and consolidation above 1.1805 could be seen as a clear signal to buy with targets at 1.1840 and even at 1.1962 around the 6/8 MurrayThe Eagle indicator has reached oversold levels. Therefore, a recovery of the euro is likely to occur in the coming days. We should wait for confirmation above 1.1800 to buy or wait for a technical rebound around the 4/8 Murray to open long positions.The material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.