11.09.202417:12 Forex Analysis & Reviews: Trading Signals for EUR/USD for September 11-13, 2024: buy above 1.1000 (rebound - 4/8 Murray)

Relevance up to 11:00 2024-09-25 UTC--4

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.

The euro is trading around 1.1006, below the 200 EMA, and below the 21 SMA approaching the 4/8 Murray pivot point located at 1.0986 against the US dollar.

In case the euro continues to decline, it is expected to find good support around 1.0990, this area could be seen as an opportunity for a technical bounce as it represents a decisive point for the euro's further trajectory.

On the other hand, if the euro continues to bounce and consolidates above the 200 EMA at 1.1020, we could look for buying opportunities with the target at 1.1050. Finally, a sharp break above this area could accelerate the bullish movement towards 6/8 Murray at 1.1108.

EUR/USD is trading within the bearish trend channel forming since August 23. In the American session, it reached the bottom of this channel and is rebounding. As long as EUR/USD consolidates above this area, it will be seen as a buying opportunity.

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.