In the coming days, we could expect the euro to consolidate around 1.1170 above the +1/8 Murray level; alternatively, if the price rebounds and consolidates above the 0/8 Murray level
The euro is trading around 1.1192, rebounding after reaching the +1/8 Murray level, which also represents a strong support level in an oversold condition.
The euro hit a low of 1.1165 and has been rebounding since then. We could expect EUR/USD to recover in the coming days, as the daily chart shows that a downtrend began on August 16 from its high of 1.1713, and so far we have not seen a significant technical correction.
If the euro consolidates above 1.1170 in the coming days, this could be considered a buy signal with targets at the 0/8 Murray level around 1.1230, and ultimately, we could expect EUR/USD to reach the 2/8 Murray level around 1.1352.
In the coming days, we could expect the euro to consolidate around 1.1170 above the +1/8 Murray level; alternatively, if the price rebounds and consolidates above the 0/8 Murray level, this could be viewed as a positive signal only if the currency pair consolidates above 1.1230.
Given that the euro is under downward pressure, we should expect a technical rebound before resuming short positions, as there could be a technical rebound in the coming days. So, it is better to wait for consolidation before taking 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 
