empty
15.12.2023 04:12 PM
Trading Signals for EUR/USD for December 15-18, 2023: sell below 1.0983 (6/8 Murray - overbought)

This image is no longer relevant

Early in the American session, the Euro (EUR/USD) is trading around 1.0952, below the 21 SMA, and below the psychological level of 1.10.

Yesterday, the euro reached a high of 1.1008 which coincides with the price levels of November. Since then, we observed a strong exhaustion of the bullish strength. EUR/USD is now consolidating below the 21 SMA.

EUR/USD is likely to continue a downward movement in the next few hours. Hence, the instrument could reach 5/8 Murray located at 1.0864 or even the 200 EMA located at 1.0854.

According to the 1-hour chart, the eagle indicator is giving an extremely overbought signal, so we expect a technical correction towards the daily support of 1.0908 or EUR/USD could even reach 1.0864 (5/8 Murray).

In case EUR/USD reaches the key 1.0900 level, a technical bounce towards 1.0950 and 1.0983 could occur. If bearish pressure persists, the euro could find another technical bounce around 1.0864. Both levels could allow us to buy with the target at 1.0986.

As long as the euro trades below the psychological level of 1.10, the outlook will remain negative. Therefore, EUR/USD could return to 4/8 Murray levels at 1.0742 in the coming days.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.