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05.11.2026 06:17 AM
The euro is trading around 1.1252, after reaching the 200-period exponential moving average (EMA), and has tried several times to break above it. If the euro consolidates above 1.1270 in the coming hours, the outlook could turn positive, so EUR/USD is expected to reach the upper band of the uptrend channel, around 1.1320.
Conversely, if the euro falls below the 200-period exponential moving average (EMA) and below 1.1262, the outlook could turn negative, and a technical correction in EUR/USD could follow, with the price potentially reaching the Murray 4/8 level, around 1.1230. We could also expect EUR/USD to find strong support around the lower band of the uptrend channel, at 1.1214.
A decisive break below the uptrend channel and consolidation below the 21-period simple moving average (SMA) at 1.1200 could change the outlook for the euro, and we could expect a downward acceleration in the coming days; hence, the instrument could reach the Murray 3/8 level, around 1.1108.
The Eagle indicator has reached overbought levels and is technically giving a negative signal; therefore, we will look to sell the euro in the coming hours below 1.1270. Alternatively, if a pullback occurs toward 1.1320, this could be considered a signal to sell.You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
