empty
16.01.2024 03:02 PM
Trading Signals for EUR/USD on January 16-17, 2024: sell below 1.0925 (200 EMA - 1/8 Murray)

This image is no longer relevant

Early in the American session, the EUR/USD pair is trading around 1.0890 within a secondary downtrend channel forming since January 10 and within a primary bearish channel forming since December 26.

Since early January, the Euro has attempted to break the psychological level of 1.10, but it could not achieve it. Since then, we observed an exhaustion of the bullish force. Now EUR/USD is trading below the 200 EMA and below the 21 SMA which gives us a negative outlook for the coming days.

On the daily chart, EUR/USD has dynamic support around the 200 EMA located at 1.0813. This level will be key. If the euro falls below this level, it could be the beginning of a bearish cycle and it could reach the psychological level of 1.05 in the short term. On the other hand, if the euro rebounds around 1.0813, it will be seen as an opportunity to buy and it could return to the psychological level of 1.10.

According to the H4 chart, the euro accelerated its downward movement after breaking the 200 EMA and is expected to continue falling in the next few hours until reaching 1/8 Murray located at 1.0864. Eventually, if the bearish force prevails, EUR/USD could reach the bottom from the main downtrend channel around 1.0815.

On the contrary, if there is a technical bounce around 1.0864, it could be seen as an opportunity to buy given that this level represents the bottom of the downtrend channel and could offer an opportunity to buy.

If the euro attempts to break the downtrend channel around 1.0925 or 1.0947 and fails, it will be seen as a signal to resume selling. The eagle indicator is giving a bearish signal. So, as long as the euro trades below the psychological level of 1.10, it will be seen as a signal to sell in the coming days.

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

EUR/USD – April 11th. The Dollar's Decline Shows No Sign of Stopping

On Thursday, the EUR/USD pair spent the entire day in an upward move, gaining 400 points and approaching the 261.8% Fibonacci corrective level at 1.1318. A rebound from this level

Samir Klishi 12:36 2025-04-11 UTC+2

Forecast for GBP/USD on April 11, 2025

On the hourly chart, the GBP/USD pair continued its upward movement on Thursday and secured a position above the 127.2% corrective level at 1.3003 – by Friday morning. This suggests

Samir Klishi 12:32 2025-04-11 UTC+2

Forex forecast 11/04/2025: EUR/USD, GBP/USD, SP500, NASDAQ, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:52 2025-04-11 UTC+2

EUR/USD Forecast for April 11, 2025

Over the past day and this morning, the euro has reached the target range of 1.1385–1.1420, corresponding to the highs of June 2019 and 2020. The signal line

Laurie Bailey 05:03 2025-04-11 UTC+2

GBP/USD Forecast for April 11, 2025

The British pound has reached the target level of 1.3001. The signal line of the Marlin oscillator is breaking through the zero line into bullish territory, opening the way toward

Laurie Bailey 05:03 2025-04-11 UTC+2

USD/JPY Forecast for April 11, 2025

Yesterday, the USD/JPY pair decisively broke through the wide support range of 145.08/91 and reached the target level of 143.45 during today's Pacific session. The Marlin oscillator has only recently

Laurie Bailey 05:03 2025-04-11 UTC+2

Trading Signals for GOLD (XAU/USD) for April 10-12, 2025: sell below $3,145 (21 SMA - 8/8 Murray)

The Eagle indicator is reaching oversold levels and is giving a negative signal, so we will look for opportunities to sell below 3,145 or below 3,131 with a target

Dimitrios Zappas 15:37 2025-04-10 UTC+2

EUR/USD. April 10. Trump Continues to Shake the Markets

On Wednesday, the EUR/USD pair made two rebounds from the resistance zone of 1.1081–1.1095, turned in favor of the U.S. dollar, and declined toward the support zone of 1.0944–1.0957

Samir Klishi 12:19 2025-04-10 UTC+2

Forecast for GBP/USD on April 10, 2025

On the hourly chart, the GBP/USD pair rebounded from the 1.2865 level on Wednesday, experienced a slight decline, and today returned to that same level. Another rebound from this level

Samir Klishi 12:12 2025-04-10 UTC+2

Forex forecast 10/04/2025: EUR/USD, SP500, NASDAQ, Dow Jones, USDX and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:35 2025-04-10 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.