For Traders

Analytical Reviews

Technical analysis

23.04.202417:20 Forex Analysis & Reviews: Trading Signals for EUR/USD for April 23-25, 2024: buy above 1.0681 (21 SMA - 3/8 Murray)

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.