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23.04.2024 05:20 PM
EUR/USD is trading around 1.0698, above 3/8 Murray, and within the uptrend channel forming since April 16. We can see on the chart that the price is located within the 21 SMA and the uptrend channel, bouncing every time it approaches 2/8 Murray.
In case there is a technical correction towards the 3/8 level Murray (1.0681) in the next few hours, it could be seen as an opportunity to buy with the target at the 200 EMA located at 1.0762.
EUR/USD is above good support around 1.0657 and 1.0650. If this area is tested in the next few days, it will be seen as a good point to buy during a technical rebound. From this level, we could expect EUR/USD to reach 1.0803.
While the euro is trading above 2/8 Murray (1.0620), the outlook will remain bullish in the short term and any technical correction will be seen as a signal to buy.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
