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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Trading Signals for EUR/USD for October 11-14, 2024: buy above 1.0935 (21 SMA - 4/8 Murray)
11:27 2024-10-11 UTC--4
Exchange Rates analysis

Early in the American session, the EUR/USD pair was trading around 1.0938, breaking the downtrend channel, above 3/8 Murray, and above the 21 SMA.

On the H1 chart, we can see a recovery of the euro and the formation of a technical reversal pattern. Therefore, if EUR/USD consolidates above 1.0925 in the next few days, we could expect it to reach the psychological level of 1.10.

If the euro falls below 3/8 Murray, we could expect it to return to the levels of October 10 around 1.0899. Even if the instrument breaks this level, it could fall to 2/8 Murray at 1.0864.

Given that the euro is showing an oversold signal on the H4 chart, we expect a recovery in the next few days. So, EUR/USD could even reach 5/8 of Murray around 1.1047.

Our outlook will be positive above 1.0925. So, we will look to buy at current price levels, with the target at 1.1045. The Eagle indicator is giving a positive signal which supports our bullish strategy.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.