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Early in the American session, the EUR/USD pair is trading around the psychological level of 1.05, above 6/8 Murray, and within the bullish trend channel forming since January 13. The instrument is showing signs of exhaustion.
The euro could suffer a technical correction in the next few hours as it is reaching strong resistance levels. At the same time, overbought levels are observed on the H4 chart.
In case the euro falls below 6/8 Murray, the outlook could be negative and it could be seen as a signal to sell with a target at 1.0449. Finally, EUR/USD could reach the 200 EMA at 1.0405.
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*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.
Gráfico Forex
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