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The euro is trading around 1.1675, below the 21-day simple moving average (SMA), and we expect it to continue rising in the coming hours if the price consolidates above 1.1675.
If the euro consolidates below 1.1680 in the coming hours, the outlook could turn negative, and EUR/USD is expected to reach the Murray 7/8 level, around 1.1657.
A decisive break below the Murray 7/8 level could trigger a strong downward move, which could push EUR/USD down to the Murray 6/8 level at 1.1596.
On the H1 chart, the Eagle indicator is giving a negative signal, so we will look for opportunities to sell below 1.1675, with targets at 1.1657, 1.1600, 1.1596, and finally, we expect EUR/USD to reach the 200-period exponential moving average (EMA) around 1.1550.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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