यह भी देखें
12.05.2025 05:33 PM
Early in the American session, the EUR/USD pair is trading around 1.1123, bouncing after reaching the bottom of the downtrend channel. We observe overbought conditions.
At the opening of this week's trading, EUR/USD opened with a technical gap. In the early hours, the instrument attempted to consolidate above the 6/8 Murray level but failed.
After the euro attempted to recover above 1.1230, it made a sharp decline toward the low of 1.1078. Since then, EUR/USD has been rebounding and is expected to continue recovering in the coming days.
The euro is expected to return to the 1.1250 level (last weekly close) or could reach the top of the downtrend channel around 1.1285.
The gap left by the euro suggests a recovery in the coming days, so we will look for buying opportunities above 1.1080, with targets at 1.1180, 1.1231, and 1.1260.
If the euro breaks the 1.1080 level, we could expect it to reach strong support, which coincides with the psychological level of 1.1000, around the 5/8 Murray line. This area could also serve as a buying point.
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?
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 InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
