empty
 
 
30.09.2024 02:19 PM
Trading Signals for EUR/USD for September 30 to October 3, 2024: sell below 1.1210 (8/8 Murray - 21 SMA)

This image is no longer relevant

Early in the American session, the EUR/USD pair is trading around 1.1189, within the bullish trend channel forming since September 13th and showing exhaustion of bullish strength as EUR/USD has found a strong resistance around 1.12 during the last few sessions.

In case the euro tries to overcome the strong resistance at 1.1012, we could expect it to continue rising until it reaches 8/8 Murray located at 1.1230. However, this area represents a strong resistance. Hence, a technical correction could occur below it.

Since the Euro has strong resistance around 1.1208, we could look for selling opportunities below this area with targets at 7/8 Murray located at 1.1169 and finally at the bottom of the uptrend channel around 1.1158.

The eagle indicator has been oscillating below a bearish trend channel since September 20th. If it fails to break through this channel, the euro could resume its bearish movement, which could be seen as a signal to continue selling EUR/USD.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback