empty
 
 
22.11.2024 03:08 PM
Trading Signals for EUR/USD for November 22-25, 2024: buy above 1.0376 (1/8 Murray - rebound)

This image is no longer relevant

Early in the American session, the euro is trading around 1.0419, bouncing after reaching the low of 1.0331 that occurred after the Eurozone PMI data surprisingly contracted.

The euro is likely to resume its bearish cycle again and could find good support around 1.0376. From that level, we could look for buying opportunities.

In case the euro rebounds above 1/8 Murray, EUR/USD is expected to again reach the psychological level of 1.0500 or the 21 SMA located at 1.0538.

Technically, the EUR/USD pair has resumed its bearish cycle. This suggests that we could expect a consolidation above 1.0376 in the next few days. Otherwise, we could expect the euro to continue its fall to 0/8 Murray located at 1.0253.

We should keep an eye on the 1/8 Murray level. A technical rebound is expected above this area. Therefore, it could be viewed as a signal to buy.

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 $6000 more!
    In December we raffle $6000 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