Early in the European session, the euro is trading around 1.1644, below the 200 EMA and within the descending trend channel formed in early September. The euro could continue its fall in the coming days, potentially reaching the 6/8 Murray support level at 1.1474.
At the beginning of October, the euro left a gap around 1.1739, and this gap is expected to be filled in the coming days. Technically, we see that there is still part of this gap that needs to be filled, so we believe that if the price consolidates above 1.1670, we could expect it to reach 1.1740.
If bearish pressure prevails, this will be seen as an opportunity to sell only if the price consolidates below 1.1662, then it could reach 1.1596 and 1.1474.
The Eagle indicator is showing a negative signal, so this will be seen as a clear signal to sell in the coming days only if EUR/USD on H4 charts remains trading below the 200 EMA on the H4 chart.
