Early in the American session, EUR/USD is trading around 1.0913, above the 21 SMA, and above the uptrend channel formed since November 13. The euro is showing some recovery after having reached the low of 1.0850. The euro is expected to continue to rise in the coming days and reach +2/8 Murray located at 1.0986. The instrument could even reach the psychological level of 1.10
Since November 22, the eagle indicator has been showing a positive signal which we could take advantage of by buying the EUR/USD pair only if it consolidates above 1.0906 with the target at 1.0986.
On the other hand, a sharp break of the bullish trend channel and a daily close below the 200 EMA located at 1.0868 could mean a change in the trend and the euro could return to levels of 8/8 Murray located at 1.0742.
