FX.co ★ Trading Signals for EUR/USD for July 26-29, 2024: buy if breaks 1.0665 (21 SMA - 2/8 Murray)

Early in the American session, the EUR/USD pair is trading at 1.0860, above the 200 EMA, and above the 21 SMA with a slightly bullish bias. According to the H4 chart, the euro is approaching a strong resistance located at 2/8 of Murray around 1.0864.

If the euro breaks the downtrend channel and consolidates above 1.0865, we could look for buying opportunities, with targets at 1.0925 and 1.0986.

Below 4/8 Murray, we could clearly sell and place a stop loss above this area as the Euro is still trading within the downtrend channel and could resume its bearish cycle.

Since the eagle indicator is showing a positive signal and any pullback is highly possible as long as EUR/USD trades above 1.0828, it will be seen as a signal to buy.