Trading Signals for EUR/USD sell below 1.04576

Early in the American session, EUR/USD is trading around 0/8 Murray located at 1.03557 with a bearish channel after it left a gap at the opening of negotiations this week.

The euro is now covering the gap in the recently hours. Thus, we expect EUR/USD to find good resistance above 1.03587. If this scenario occurs, the instrument could reach 1.04187 and even the 200 EMA located at 1.04576.

On the contrary, if the euro falls below 0/8 Murray and consolidates below 1.03587, the outlook could remain bearish. Hence, we could expect EUR/USD to reach -1/8 Murray located at 1.02502.

The indicator has reached overbought zones. so, we believe that the euro could recover part of the losses in the next few days. Therefore, we will look for opportunities to sell below 1.04576 or in case there is a technical rebound around 1.02502.