See also
06.01.2025 06:13 PM
Early in the American session, EUR/USD was trading around 1.0411 reaching the top of the downtrend channel forming since November 22nd.
During the European session, the euro had a strong bullish rally reaching a high of 1.0426. Given that the euro is below the downtrend channel, we believe that a technical correction could occur in the next few hours. So, we will look for opportunities to sell below 1.0425 with the target at the 21 SMA located at 1.0324.
We could expect the instrument to reach the psychological level of 1.005. EUR/USD could even reach 7/8 Murray at 1.0620.
Our outlook remains negative for the euro. So, below 1.0496, we will look for opportunities to sell EUR/USD in the short term with the target at 1.0250.
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?
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 InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
