empty
 
 
02.02.2024 03:08 PM
Trading Signals for EUR/USD on February 2-6, 2024: sell below 1.0890 (bearish channel - 200 EMA)

This image is no longer relevant

The euro is trading around 1.081, below the 200 EMA ,and inside the downtrend channel formed since January 10. On the H4 chart, we can see that EUR/USD remains in positive territory but could encounter strong resistance at 1.0890 (200 EMA) and the top of the bearish channel.

Yesterday, gold reached the low of 1.0780, the level coinciding with the bottom of the downtrend channel. From that point, EUR/USD gave a strong boost and reached a high of 1.0896. The pair now remains above the 21 SMA located at 1.0840 which gives it a positive outlook for the coming days.

In the next few hours, the US nonfarm payrolls will be published. If the data is favorable for the US labor market, we could see a sharp fall in the euro and it could return to levels of 1.0839 and could even reach the key level of 1.0803 (1/8 Murray).

In case the data is discouraging for US employment, we could expect the euro to break sharply from the downtrend channel and it could consolidate above 1.0900. Then, EUR/USD could gain bullish momentum and reach 3/8 Murray at 1.0925 and finally, around 4/8 Murray at 1.0986 near the psychological level of 1.10.

Technically, we see that the euro is showing signs of exhaustion and we could expect a technical correction in the coming days. Therefore, there is strong bearish pressure below 1.0890. The bullish cycle could resume above 1.0900.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $8000 más!
    ¡En Marzo, sorteamos $8000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback