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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 continues to fall, it has strong support around the 2/8 Murray located at 1.1596. This level could be seen as a point for a technical rebound and could also be seen as a signal to open long positions.
If the euro recovers in the coming hours, we could buy above 1.1600, with a target at 1.1657 and at the top of the downtrend channel around 1.1665.
Our trading plan for the coming hours is to wait for the EUR/USD pair to reach the 2/8 Murray support level to open long positions.
If this scenario occurs, we could see it as a signal to buy with a target at the 3/8 Murray at 1.1658.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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