Maradok 
Kereskedési feltételek
Products
Eszkozok
EUR/USD is trading around 1.1168 within the bullish trend channel forming since August 2 and showing a technical correction signal. During the European session, the euro reached a high of 1.1201 and since then we have been observing a correction. Thus, the instrument is likely to continue falling in the next hours until it reaches the 21 SMA at 1.1142. Finally, EUR/USD could reach 6/8 Murray at 1.1108.
If the euro continues its rise, we should expect a consolidation above 1.1170 on the H4 chart. Then, the next target to reach will be 1.1230 which matches Murray 8/8 and acts as a strong resistance.
The eagle indicator has reached the extremely overbought zone which is likely to lead to a technical correction in the next few hours. For this, we should pay attention to a clear signal to sell, the key is that the EUR/USD pair consolidates below 1.1180.
Since the euro's overall trend remains bullish, EUR/USD will resume its bullish after a technical correction. Therefore, we should pay attention to the key support at 1.1108 or the bottom of the bullish trend channel located at 1.1090. Around this area, we could expect a technical bounce that will be seen as an opportunity to buy with the target at 1.1230.
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.
