The euro is trading around 1.1572, rebounding after hitting the 21-day SMA during the European session and showing a positive signal. The euro faces strong resistance around the 3/8 Murray line, which also coincides with the 200-day EMA.
If the euro reaches the 200 EMA around 1.1596, we could expect this area to act as strong resistance and it could be seen as a signal to open short positions, with targets at 1.1540 and around the 2/8 Murray level at 1.1474.
If bullish momentum prevails and the euro consolidates above 1.1600, we could expect the uptrend to continue, potentially reaching 1.1670 and possibly even 4/8 Murray around 1.1718.
A decisive breakout and consolidation above the 4/8 Murray level could see the EUR/USD pair quickly reach the 5/8 Murray level around 1.1840, thereby filling the gap left on February 27 around 1.1820.
The Eagle indicator is showing a positive signal, and if the euro trades within an uptrend channel or pulls back toward the psychological level of 1.15, this could be seen as an opportunity to open long positions with targets at 1.1718 and 1.1820.
