Early in the American session, EUR/USD is trading around 0/8 Murray located at 1.0253 with a bearish bias after it left a gap at the opening of negotiations this week.
The euro could cover this gap in the next few days. Thus, we expect EUR/USD to find good support above 1.0250. If this scenario occurs, the instrument could reach 1.0368 and even the 200 EMA located at 1.0402.
On the contrary, if the euro falls below 0/8 Murray and consolidates below 1.0250, the outlook could remain bearish. Hence, we could expect EUR/USD to reach -1/8 Murray located at 1.0131.
The eagle indicator has reached oversold zones. So, we believe that the euro could recover part of the losses in the next few days. Therefore, we will look for opportunities to buy above 1.0250 or in case there is a technical rebound around 1.0131.
