empty
17.12.2024 04:21 PM
Trading Signals for EUR/USD for December 17-20, 2024: buy above 1.0526 (21 SMA - 2/8 Murray)

This image is no longer relevant

Early in the American session, the euro is trading around 1.0496, below 2/8 Murray, below 21 SMA, and within a downtrend channel forming since November 26th. The euro is under selling pressure. Therefore, EUR/USD is likely to continue its fall in the next few hours.

The euro has been consolidating since the beginning of November above the psychological level and below 1.0620. This consolidation will continue in the next few days and we could look for opportunities to buy above 1.0526 (21 SMA) and sell below 1.0620 (3/8 Murray).

In case the euro consolidates below 1.0496, the outlook could be negative and we expect EUR/USD to reach the 1/8 Murray located at 1.0376. This could be a key point and we could expect a technical bounce to occur around this area.

Since November 17, the Eagle indicator has been giving a positive signal. So, we believe that above the psychological level of 1.0500, the outlook could be positive for the euro. Hence, we expect EUR/USD to reach the 200 EMA around 1.0805.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for EUR/USD for January 8-10, 2025: buy above 1.0253 (4/8 Murray - 21 SMA)

Technically, the euro is under bearish pressure. So, we believe that in case there is a technical bounce and the price consolidates below 1.0347 (21 SMA), it will be seen

Dimitrios Zappas 15:55 2025-01-08 UTC+2

Trading Signals for GOLD (XAU/USD) for January 8-10, 2025: buy above, $2,642 (21 SMA - 200 EMA)

If gold bounces around 2,642 in the next few hours and consolidates above this area, it will be seen as an opportunity to buy and the price could return

Dimitrios Zappas 13:56 2025-01-08 UTC+2

Forecast for EUR/USD on January 8, 2025

On Tuesday, the EUR/USD pair made a second reversal in favor of the U.S. dollar above the 1.0405–1.0420 zone and dropped to the support zone of 1.0336–1.0346. A rebound from

Samir Klishi 11:31 2025-01-08 UTC+2

Forecast for GBP/USD on January 8, 2025

On the hourly chart, the GBP/USD pair climbed to the 200.0% corrective level at 1.2569 on Tuesday, rebounded from it, and turned in favor of the dollar with a subsequent

Samir Klishi 11:28 2025-01-08 UTC+2

Forex forecast 08/01/2025: EUR/USD, GBP/USD, USDX, SP500 and Bitcoin

Video Agenda: 00:00 INTRO 00:13 Totay's key events: ADP Nonfarm Employment Change, Initial Jobless Claims, Crude Oil Inventories, FOMC Meeting Minutes 01:58 EUR/USD 03:42 GBP/USD 05:00 USDX 07:11

Sebastian Seliga 10:59 2025-01-08 UTC+2

Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday January 08, 2024.

If we look at the 4-hour chart of the USD/CAD commodity currency pair, it appears that a bearish Pitchfork channel and a Bearish 123 pattern have formed, coupled with confirmation

Arief Makmur 07:18 2025-01-08 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday January 08, 2024.

On the 4-hour chart, the AUD/JPY cross currency pair, although it looks a bit sideways in its movement, Buyers still have control over this cross currency pair. This is confirmed

Arief Makmur 07:18 2025-01-08 UTC+2

Forecast for EUR/USD on January 8, 2025

Yesterday, the US dollar increased by 0.39%, while the euro decreased by 0.47%. This movement occurred alongside a 1.10% drop in the US S&P 500 stock index. The significant decline

Laurie Bailey 04:04 2025-01-08 UTC+2

Forecast for GBP/USD on January 8, 2025

Yesterday, the British pound pierced the balance line on the daily chart with its upper shadow and then turned downward along with the broader market. The signal line

Laurie Bailey 04:04 2025-01-08 UTC+2

Forecast for AUD/USD on January 8, 2025

On the weekly chart, the price continues to hover near the light lavender price channel line. It has the potential to reach the 158.66 level, although it may fall short

Laurie Bailey 04:04 2025-01-08 UTC+2
Can't speak right now?
Ask your question in the 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.