FX.co ★ Daily Forex Analytics. Forecast of the currency exchange rate for today

On the H4 chart, we can see that the euro has got stuck within a downtrend channel formed since January 28, and a break below the 200 EMA located...

If the euro encounters strong rejection below the 5/8 Murray, it will be seen as an opportunity to open short positions with targets at the 4/8 Murray located at 1.1718...

A sharp break of the uptrend channel and consolidation above 1.1840 could be seen as a clear signal to buy with targets at 1.1962, where the 6/8 Murray is located...

EUR/USD is trading at 1.1949 within the trend channel formed since January 9 and consolidating within this channel, awaiting a technical rebound during which the instrument could reach the 7/8...

Early in the European session, the EUR/USD pair is trading around the 2/8 Murray and within the uptrend channel formed since January 18. The H4 chart shows a negative bias...

If the euro consolidates within the uptrend channel, it is expected to continue its upward path in the coming hours and could reach 1.1840 in the short term...

The Eagle indicator is showing a negative signal. So, a strong technical correction will likely occur in the coming hours, and EUR/USD could reach 1.1676 around the 21 SMA located...

In case of a technical rebound above 1.1596 or 1.1555, it will be seen as an opportunity to open long positions with targets at 1.1657, where Murray's 3/8 is located...

EUR/USD is trading lower and is now at 1.1622. This level could offer good support for the euro, and we could expect a technical rebound in the coming hours...

If the euro reaches 2/8 Murray or the bottom of the downtrend channel in the coming hours, we could expect this area to be a good point to open long...