empty
 
 
11.10.2024 05:27 PM
Trading Signals for EUR/USD for October 11-14, 2024: buy above 1.0935 (21 SMA - 4/8 Murray)

This image is no longer relevant

Early in the American session, the EUR/USD pair was trading around 1.0938, breaking the downtrend channel, above 3/8 Murray, and above the 21 SMA.

On the H1 chart, we can see a recovery of the euro and the formation of a technical reversal pattern. Therefore, if EUR/USD consolidates above 1.0925 in the next few days, we could expect it to reach the psychological level of 1.10.

If the euro falls below 3/8 Murray, we could expect it to return to the levels of October 10 around 1.0899. Even if the instrument breaks this level, it could fall to 2/8 Murray at 1.0864.

Given that the euro is showing an oversold signal on the H4 chart, we expect a recovery in the next few days. So, EUR/USD could even reach 5/8 of Murray around 1.1047.

Our outlook will be positive above 1.0925. So, we will look to buy at current price levels, with the target at 1.1045. The Eagle indicator is giving a positive signal which supports our bullish strategy.

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 $1000 more!
    In October we raffle $1000 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